RCS - Bluefield Solar Inc. - Update from QuotedData

Bluefield Solar Income FundAnnouncement

25/04/2024 08:45

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RNS Number : 0176M  Bluefield Solar Income Fund Limited  25 April 2024

 

Bluefield Solar Income Fund - Update from QuotedData

25(th) April 2024

Fundamentals shine despite discount

In common with the other funds in the renewable energy sector, the last six
months have continued what has been a challenging period for the Bluefield
Solar Income Fund (BSIF), with its ongoing fundamental performance (including
strong revenue and earnings growth) failing to reverse a steady slide in its
shares which began back in May 2023. Despite this, the company has continued
to deliver solid NAV growth and market-leading shareholder distributions
thanks to a range of contractual arrangements (discussed on page 6) that
underpin its assets.

Whilst the falling share price remains frustrating for investors, positively,
this does not appear to be a reflection on the company itself, but rather
broader macro-economic conditions and negative sentiment surrounding UK
companies, the investment companies sector and renewable energy infrastructure
in particular. The board has signalled its dissatisfaction with the situation
by authorising a £20m share buyback, which is currently underway.

With growth accelerating and a recently announced strategic partnership
providing an avenue for the ongoing development of its pipeline, the outlook
remains attractive, as does a well-covered dividend yield approaching 9%.

Full Research:

https://quoteddata.com/research/bluefield-solar-income-fund-fundamentals-shine-discount-qd/
(https://quoteddata.com/research/bluefield-solar-income-fund-fundamentals-shine-discount-qd/)

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NB: Marten & Co was paid to produce this note on Bluefield Solar Income
Fund Limited, and it is for information purposes only. It is not intended to
encourage the reader to deal in the security or securities mentioned in this
report. Please read the important information at the back of this note.
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