Guernsey-registered investment firm Bluefield Solar Income Fund (BSIF) has agreed to acquire three solar plants in the UK for £54m.

The deal covers a 6.5MW plant in Somerset, a 12.5MW facility in Wiltshire and a 29MW plant in Oxfordshire.

All the plants are anticipated to qualify under the 1.4 Renewable Obligation Certificate regime.

The agreed price, which includes transaction costs and working capital, will be covered using a portion of £131m raised by BSIF in a placing in November 2014.

BSIF raised gross proceeds of £130m in July 2013 via an initial public offering and a further £13m in February 2014 in an oversubscribed placement.

In June 2014, the company agreed a three-year revolving credit facility with Royal Bank of Scotland, for up to £50m.

BSIF intends to offer shareholders an attractive return, principally in the form of income distributions, by investing in a portfolio of solar energy assets located within the UK.

Bluefield Partners is the investment adviser of BSIF. It serves as an investment adviser to companies and funds investing in solar energy infrastructure.

The company participated in more than £600m of solar photovoltaic funds and/or transactions in both the UK and Europe since 2008, including over £380m in the UK since December 2011.

Bluefield has led the acquisitions, and presently advises on more than 50 UK-based solar assets that are agriculturally, commercially or industrially located.