In QuotedData’s morning briefing 21 June 2022:
- ThomasLloyd Energy Impact (TLEI) is buying the remaining 57% of SolarArise India Projects for $38.5m. SolarArise is a Delhi based renewable energy platform which holds interests in seven solar power projects in India totalling 434 MW, of which 234 MW is operational and 200 MW is construction-ready. 100% of SolarArise’s operating revenues are generated under fixed price, long-term power purchase agreements. The purchase of its initial 43% stake is expected to complete in coming weeks and the acquisition of the balance is expected to complete in the fourth quarter of 2022 following regulatory approval and other completion procedures. Following completion of the 43% interest and this acquisition, the company will own 100% of SolarArise and has deployed, or committed to deploy, 66% of the net IPO proceeds.
- Schroder European REIT (SERE) posts a NAV total return for the six months to 31 March 2022 of 5.5% (2021: -0.4%) following 4% growth in the value of its portfolio to €247.9m. Its NAV actually fell slightly, by 0.2%, to 148.8 euro cents per share due to the payment of a special dividend of €6.4m/4.75 euro cents per share following the hugely profitable sale of a Paris office asset. It has today declared an ordinary dividend of 3.7 euro cents and a second special dividend of €6.4m/4.75 euro cents per share for the six months to 31 March 2022. The group’s loan to value (LTV) of 18% is one of the lower in the REIT sector, and comes with a weighted average total interest rate of 1.4%.
We also have results from Momentum Multi-Asset Value, Monks and GCP Infrastructure, plus an acquisition by Schroder British Opportunities