Bluefield Solar Income Acquisition, Valuation & Financials
Bluefield Solar Income was acquired by Drax Group for $755M in May 2026.
Bluefield Solar Income EBITDA multiple at acquisition
4.3x
EV/EBITDA · May 2026
Bluefield Solar Income market cap before the deal
$737M
LON: BSIF · Jul 2026
Bluefield Solar Income Overview
About Bluefield Solar Income
Bluefield Solar Income Fund Ltd is a Guernsey-based Investment company. The company provides investment advisory services to companies and funds investing in renewable energy infrastructure. Its investment objective is to provide shareholders with an attractive return, principally in the form of regular income distributions, by investing in a portfolio of UK-based solar energy infrastructure assets. The company invests in a diversified portfolio of renewable energy assets, each located within the UK, with a focus on utility-scale assets and portfolios on greenfield, industrial and/or commercial sites.
Bluefield Solar Income Acquisition
Bluefield Solar Income was acquired by Drax Group for $755M on 31 May 2026.
The acquisition price implies a 4.3x EBITDA multiple.
Drax Group agreed to acquire Bluefield Solar Income Fund for **GBP 548 million** in cash, with the offer implying an enterprise value of about **GBP 1,080 million**. Including Bluefield’s second interim dividend, shareholders are entitled to **94.82p per share**, valuing the company at about **GBP 561 million** in total; the deal was funded with **GBP 1.1 billion** of bridge financing. The structure is a cash offer at **92.57p per share** plus the **2.25p** dividend, and Bluefield investors were also described as receiving a premium to the pre-offer share price. Drax said the transaction would expand its renewables portfolio and increase the predictability and visibility of cash flows from a large operational asset base. Strategically, the deal adds wind and solar assets to Drax’s portfolio and was framed as a way to grow Drax’s renewables EBITDA. Bluefield’s assets were described as having about **GBP 130 million** of EBITDA in financial 2025, and at the end of December its total assets were **GBP 639 million**. The offer price was reported as being below Bluefield’s net asset value of **104.52p per share** as of May 14, while still representing a sizable premium to the pre-offer closing price. Bluefield Solar Income Fund is an investment company focused on renewable energy assets, with an operational portfolio of solar and wind projects. The transaction terms indicate a large-scale portfolio acquisition rather than a corporate merger, with value derived from contracted renewable cash flows and asset-backed earnings.
| Acquirer | Date | Type | Price | EV/EBITDA |
|---|---|---|---|---|
| 31 May 2026 | Strategic M&A | $755M | 4.3x |
Bluefield Solar Income as a Public Company
Bluefield Solar Income traded as LON: BSIF before it was taken private. Its acquisition was announced in May 2026. July 2026 is its last month on record as a listed company, with a market cap of $737M and an enterprise value of $737M.
Over the 2 years before that, its market cap fell from $873M in July 2024 to $737M.
Bluefield Solar Income market cap while listed
Bluefield Solar Income EV/Revenue (LTM) while listed
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EBITDA margin | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Jul 2026 | $737M | - | - | - | - | - |
| Jul 2025 | $758M | $274M | $215M | 78% | 2.8x | 3.5x |
| Jul 2024 | $873M | $268M | $239M | 89% | 3.3x | 3.7x |
Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Bluefield Solar Income traded.
Common questions about Bluefield Solar Income
| When was Bluefield Solar Income founded? | Bluefield Solar Income was founded in 2013. |
| Where is Bluefield Solar Income headquartered? | Bluefield Solar Income is headquartered in United Kingdom. |
| Is Bluefield Solar Income publicly listed? | No, Bluefield Solar Income was acquired by Drax Group in May 2026. |
| Who acquired Bluefield Solar Income? | Bluefield Solar Income was acquired by Drax Group in May 2026. |
| How much was Bluefield Solar Income acquired for? | Bluefield Solar Income was acquired for $755M in May 2026. |
| What was Bluefield Solar Income's market cap before the acquisition? | Bluefield Solar Income had a market cap of $737M in July 2026, its last month on record as a listed company. |
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