A multi-disciplinary team from Burges Salmon’s Energy sector practice has advised long-standing client Bluefield Solar, a UK-focused income fund listed on the London Stock Exchange that invests primarily in solar assets, on the acquisition of Bradenstoke Solar Park Limited.
Located on a 213-acre site at a former RAF airbase in Wiltshire, the operational ground-mounted solar photovoltaic (PV) plant was acquired for a total cash consideration of £89 million and, at 70 MWp, brings the total installed capacity of Bluefield Solar’s portfolio to 612 MWp. The transaction follows the purchase of a 64 MWp portfolio of fifteen operational PV plants in August 2020, on which Burges Salmon also advised.
Neil Wood, Partner at Bluefield Partners LLP, Investment Adviser to Bluefield Solar, says: “The purchase of Bradenstoke is further evidence of Bluefield Solar’s ability to source attractive assets with high levels of regulated revenues. We’re delighted to have worked with the Burges Salmon team once again to bring this transaction to a successful conclusion.”
The Burges Salmon team advising Bluefield Solar on the transaction was led by partner Jonathan Eves with support from directors Victoria Allsopp and Peter Ramsden and senior associates Peter Dunn and Rebecca Brown.
Jonathan says: “Our recent work with Bluefield Solar has seen two significant acquisitions take place within the context of UK lockdowns during the global coronavirus pandemic. It has been great to work alongside the Bluefield team again.”