Bluefield Partners Scoops JV Award with GLIL Infrastructure
Deal News | Dec 03, 2024 | Bluefield Partners LLP
In a remarkable feat, Bluefield Partners LLP and GLIL Infrastructure have been awarded the Joint Venture Acquisition of the Year Europe at the IJInvestor awards. The accolade is for their strategic purchase of a 58-operational solar project portfolio in the UK from Lightsource bp, a deal valued at £220 million and completed in January. The transaction is designed in three stages, with phase one already concluded. Phase two, which commenced in July 2024, involved GLIL acquiring a 50% stake in Bluefield's 112 MW solar energy portfolio. This move includes nine operational sites in Southern and Central England, with renewable projects supported by Renewable Obligation Certificates. The final phase focuses on new solar projects from Bluefield's pipeline to be operational within three years. This alliance blends sustainability goals and impressive financial backing, marking a significant stride in the UK's energy transition agenda.
Sectors
- Private Equity
- Renewable Energy
Geography
- United Kingdom – The joint venture focuses on the acquisition and development of solar energy projects across the UK.
Industry
- Private Equity – The industry focuses on investment management companies like Bluefield Partners engaging in large scale infrastructure acquisitions and joint ventures.
- Renewable Energy – This involves the development and investment in solar energy projects, as evident in Bluefield and GLIL's focus on solar portfolios and renewable energy assets.
Financials
- £220 million – The deal value for purchasing 58 operational solar projects from Lightsource bp.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bluefield Partners LLP | Investment Manager | Company | A private equity firm managing the Bluefield Solar Income Fund (BSIF), involved in acquiring UK solar projects. |
| GLIL Infrastructure | Joint Venture Partner | Company | Partnered with Bluefield in acquiring and developing solar energy projects in the UK. |
| Lightsource bp | Vendor | Company | Sold a portfolio of 58 operational solar projects in the UK to the joint venture. |
| James Armstrong | Managing Partner | Person | Founder and Managing Partner of Bluefield Partners. |
| IJInvestor | Awarding Body | Company | The organization that awarded the joint venture acquisition of the year for Europe. |