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UK's Drax to buy Bluefield Solar Income Fund in $755 million deal - Finance news and analysis from Global Banking & Finance Review
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UK's Drax to buy Bluefield Solar Income Fund in $755 million deal

Published by Global Banking & Finance Review

Posted on June 1, 2026

1 min read

· Last updated: June 1, 2026

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UK's Drax to buy Bluefield Solar Income Fund in $755 million deal

Overview of the Drax and Bluefield Solar Income Fund Acquisition

Deal Announcement and Valuation

June 1 (Reuters) - British power group Drax said on Monday it had agreed to buy Bluefield Solar Income Fund (BSIF) in a deal that values the renewable energy-focused investment company at about £561 million ($755.3 million), including a permitted dividend.

Strategic Importance and Portfolio Expansion

Drax said the acquisition of BSIF, which operates wind farms and small-scale wind turbines, will expand its UK renewable generation portfolio and align with Britain's clean energy targets.

Terms of the Acquisition

Under the terms of the acquisition, BSIF shareholders will receive 92.574 pence per share in cash and an additional interim dividend of 2.25 pence per share.

Currency Exchange Rate

($1 = £0.7428)

Reporting and Editorial Credits

​

(Reporting by Simone Lobo in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)

Key Takeaways

  • The £561 million valuation includes a permitted dividend and equates to about $755.3 million at $1 = £0.7428 as reported on June 1 by Reuters (investing.com).
  • Bluefield Solar, a FTSE 250–listed renewable energy fund focused on UK solar, wind and storage assets, had initiated a formal sale process after shareholders resisted internalising its adviser (tradingview.com).
  • As of mid‑2025, BSIF had a NAV of around £697 million, substantial operational capacity (~883 MW) and a 1.4 GW development pipeline, highlighting Drax’s access to significant clean energy infrastructure (tradingview.com).

References

Frequently Asked Questions

What is the value of Drax's acquisition of Bluefield Solar Income Fund?
The acquisition values Bluefield Solar Income Fund at about £561 million or $755.3 million.
Who is acquiring Bluefield Solar Income Fund?
British power group Drax is acquiring Bluefield Solar Income Fund.
What sector does Bluefield Solar Income Fund focus on?
Bluefield Solar Income Fund is focused on renewable energy investments.
Does the deal include a dividend for Bluefield shareholders?
Yes, the valuation includes a permitted dividend.

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