Bluefield Partners Managing Partner James Armstrong takes Proactive's Stephen Gunnion through the latest interim results for the Bluefield Solar Income Fund (LSE:BSIF), highlighting robust operational performance and an increase in dividend targets. Armstrong noted the standout success of the strategic partnership with GLIL, which contributed to long-term and short-term value protection and significant liquidity, with over £90 million returned to the company.
Armstrong emphasised Bluefield Solar's continued leadership in dividends, targeting "not less than 8.9 pence per share," which translates to over 10% based on the current share price. He also highlighted the addition of two new assets—Yelvertoft, a Contract for Difference (CFD) asset, and Mauxhall Farm—which reinforced the company's solid operational performance.
Discussing the future of the GLIL partnership, Armstrong explained that Phase 3 focuses on developing Bluefield Solar's proprietary development pipeline, underscoring the partnership’s growth potential. Under ESG initiatives, he proudly mentioned the Impact on Clients Award for biodiversity work at West Raynham Solar Park, showcasing the company’s environmental stewardship.
Addressing the discounted Net Asset Value (NAV), Armstrong outlined strategic steps, including a share buyback program and prudent capital allocation, to align with shareholder interests and narrow the NAV discount. He concluded by highlighting Bluefield's focus on delivering innovative and value-creative solutions for shareholders.
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