SDCL Energy Efficiency Income raises £72m – SDCL Energy Efficiency Income Trust (SEIT) has announced that it has raised £72m in a new ordinary share placing. The company floated recently (December 2018), raising £100m, and the latest injection of equity will allow it to push forward with some of the acquisition opportunities it is currently in advanced negotiations for.
New money follows post-IPO investments
SEIT acquired its seed portfolio later shortly after its IPO for £87m. Examples of the projects in the seed portfolio include Combined Cooling/Heating (CHP) and Power Plants at a Citi data centre and St Bartholomew’s Hospital in London, as well as LED lighting projects for hundreds of Santander properties and over 100 NCP car parks in the UK.
Following this, SEIT announced its first investment in the United States comprising a 71% interest in a portfolio of eight operating CHP projects for $5m.
SEEIT aims to deliver shareholders value through its investment in a diversified portfolio of energy efficiency projects which are driven by the opportunity to deliver lower cost, cleaner and more reliable energy solutions to end users of energy.
SEEIT aims to give investors an annual total return of 7-8 per cent, with a stable dividend income, capital preservation and the opportunity for capital growth.
SEIT: SDCL Energy Efficiency Income raises £72m