EY’s Corporate Finance team has advised on the sale of a 93.2-megawatt peak UK-based solar and wind portfolio to Bluefield Solar Income Fund Limited (BSIF).
EY acted on behalf of a UK-based fund manager to agree the sale for a total equity consideration of £112.4 million.
The assets portfolio consists of fifteen solar farms with a total capacity of 64.9-MWp and four wind farms with a total capacity of 28.3 MWp, located across the UK. The sale represents BSIF’s largest acquisition to date and its third acquisition of operational assets in the last 12 months.
The EY team were financial advisors to the sellers. The deal team was led by Ben Warren and Louise Shaw supported by Grant Brennan, Emily Phillips and Andrew Hill.
Louise Shaw, EY Partner, Energy Infrastructure and Corporate Finance, commented: “We are delighted to have advised our client on the sale of one of the most attractive onshore wind and solar portfolios in the UK. This highly competitive process has demonstrated the depth of capital dedicated to high performing, quality renewable energy portfolios.
“The sale completed in a volatile and inflationary environment with the level of returns confirming investors’ confidence in the risk profile of operating renewable energy assets. It has been another successful transaction in what continues to be a busy transaction period for our team, driven in part by a continued focus on ESG criteria for institutional investors and growing interest in the energy transition sector.”