RBS International, with the support of NatWest as Sustainability Coordinator, has structured a syndicated £150 million green asset-backed revolving credit facility for Bluefield Solar Income Fund Limited (‘Bluefield Solar’ or the ‘Company’), a FTSE250 London listed fund managed by Bluefield Partners LLP, an investment adviser with a proven record in the selection, acquisition and supervision of large-scale energy assets in the UK and Europe. 

12 years of expertise in clean energy investments 

Since its 2013 IPO, Bluefield Solar has been a pioneer in the renewable energy space, investing primarily in solar energy assets located in the UK. The Company also has the ability to invest a minority of its capital into wind, hydro and energy storage assets. Bluefield Solar owns and operates a UK portfolio of 882.9MW, comprising 824.6MW of solar and 58.3MW of onshore wind assets, managing over 100 assets (amounting to a total net asset value of £728.3 million as of 31 March 2025). Bluefield Solar believes that renewable investments create opportunity for attractive and stable returns, whilst advancing the decarbonisation of energy markets, thus supporting domestic energy supply security and affordability.

The £150m refinancing of the Fund’s existing Revolving Credit Facility, which benefits from an additional £30m accordion option, was provided by the Company’s existing three-bank syndicate and provides Bluefield Solar with sufficient liquidity to manage its development pipeline. 

Accelerating the decarbonisation of infrastructure 

RBS International was the lead structuring bank for Bluefield Solar’s green asset-backed revolving credit facility and with the support of NatWest also acted as the Sustainability Coordinator, facilitating the development of Bluefield Solar’s green financing framework, which received an “Excellent” rating by second party opinion provider, Sustainable Fitch, reflecting Bluefield Solar’s contribution towards a sustainable and low-carbon future. Sustainable Fitch had noted that the financing focuses on making a “substantial contribution to climate change mitigation”.

RBS International dedicated to financing the sustained development of renewable energy 

Neil Wood, Partner, Bluefield Partners LLP, said: “It was great to work with the RBS International team on this transaction and structuring of this Green Loan, which underpins Bluefield Solar’s sustainability strategy, and will play a key role in supporting the funding of its substantial renewable energy development pipeline.”

Bryan Fashola, Director, RBS International, commented: “We are pleased to have supported Bluefield Solar with the structuring of this Green Loan, which supports its strategy to scale renewable energy assets and underscores our commitment to financing sustainable initiatives. We look forward to deepening our support for the renewables & infrastructure sector.” 

Fazl Ahmad, Sustainable Finance Advisory, Funds and Sponsors, NatWest: “We are pleased to support Bluefield Solar in refinancing this facility as a green loan. By coordinating the delivery of the green financing framework and obtaining an “excellent” second-party opinion, we’re delighted to work with Bluefield Solar in supporting the transition to a net zero future.”

Finance is subject to status. Security may be required. Product fees may apply.

Climate and sustainable financing and facilitation represents only a relatively small proportion of our overall financing and facilitation activities. Details of our financing and facilitation activities and associated emissions can be found in the NatWest Group – 2024 Sustainability Report (sections ‘Estimates of financed emissions’ (p.41) and ‘Estimates of facilitated emissions from bond underwriting and syndicated lending’ (p.45).