May 23 (Renewables Now) - Bluefield Solar Income Fund Ltd (LON:BSIF) today said it has acquired 80 MW of ready-to-build battery energy storage projects in England in a deal worth GBP 4.5 million (USD 5.7m/EUR 5.3m).
The purchase includes the project development rights, grid connection costs and the leasehold of land. The vendor is energy storage developer Green Hedge Energy UK.
The portfolio consists of two projects of 40 MW each, located in Derbyshire and Worcestershire, in the East and West Midlands of England, respectively. Both of them are fully permitted and benefit from near-term grid connection, with their construction scheduled to begin this year.
When operational, the battery systems are planned to deliver grid support services. Bluefield noted that their addition to its portfolio will help it further diversify its revenue streams.
The income fund, which earlier this month acquired a 93.2-MWp portfolio of operational solar and wind assets in the UK, has more than 766 MWp of installed solar assets. "The Board and our investment adviser continue to carefully assess a strong pipeline of opportunities across both primary and secondary markets," said Bluefield Solar chairman John Rennocks.
(GBP 1.0 = USD 1.257/EUR 1.185)