Bluefield Partners managing partner James Armstrong discusses the Bluefield Solar Income Fund's financial performance with Proactive's Stephen Gunnion.
In the quarter to 31 March, 2024, the Fund showed resilience, with NAV dropping only slightly due to effective power hedging strategies against fluctuating power prices. The income strategy, which has been consistent since its IPO 11 years ago, includes a significant percentage of power sales hedged for 2024 and 2025, maintaining an income product with a prospective yield of over 8% for shareholders.
Armstrong highlighted the Fund's shareholder strategies, including a share buyback program, which bought back 2.45 million shares in March and continues towards a target of £20 million. Despite a 20% discount to net asset value, the Fund reported the strongest financial performance in over a decade, attributed to strategic management and market conditions.
Additionally, Armstrong detailed a strategic partnership with GLIL Infrastructure, signaling a long-term commitment to infrastructure investments and asset management aimed at boosting liquidity and reducing company debt.
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