Bluefield Solar (BSIF), the London-listed U.K. income fund focused primarily on acquiring and managing solar energy assets, announced the sale of a portfolio of solar and storage projects totaling 250 MW to Lyceum Solar, a joint venture with 25% ownership by BSIF and 75% ownership by GLIL Infrastructure.
The 75% stake acquired by GLIL in the Phase 3 portfolio amounts to £38 million (~$51 million), of which £28 million (~$38 million) is to be paid upfront following the closing of the transaction. £10 million (~$13.5 million) is deferred and contingent upon meeting the project’s milestones, which are expected over the next twelve months.
The Phase 3 portfolio includes the Mauxhall Farm, comprising a co-located 44.5 MW solar and 25 MW battery energy storage system. The solar portion of the project began operation in August 2024, while the battery storage component is currently under construction.
The portfolio also comprises four ready-to-build solar projects with a combined capacity of 180 MW, three of which have secured a contract for difference under either AR5 or AR6.
Following the completion of the transaction, Blufield Solar’s operational net capacity will reduce from 883 MW to 850 MW. The company owns 100% of the 745 MW of operational capacity, while 105 MW represents BSIF’s 25% stake in Lyceum Solar’s operational portfolio.
John Scott, Chair of Bluefield Solar, said, “We are delighted to announce the completion of the third phase of the Company’s strategic partnership with GLIL, a partnership which commenced in December 2023. In just 20 months, Bluefield Solar and GLIL have built one of the premier solar and battery portfolios in the UK, with a capacity of 626MW. For Bluefield Solar, this partnership reflects a commitment to disciplined growth, inflation-linked returns, and capital deployment into assets that align with national priorities for decarbonisation, industrial productivity, and energy security, while delivering value for shareholders from the portfolio.”
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.
In August, NextPower V ESG, a fund of NextEnergy Capital, announced the acquisition of a 73 MW advanced agrivoltaic solar project in Campania, south-eastern Italy.
