In QuotedData’s morning briefing 25 July 2022:
- Aquila Energy Efficiency (AEET) has committed a further £8.3m of which £3.9m has been deployed in a project including a cluster of 32 energy efficiency projects for small residential buildings and condominiums qualifying for the Italian Superbonus incentive scheme. It has also committed to three transactions in Spain, which includes an investment in a 3.83MWp roof mounted solar PV plant for self-consumption located near Tarragona, a cluster of three solar PV plants for self-consumption located in Zaragoza, Aragon, totalling 0.4MWp and comprising two ground mounted and one roof mounted plant and a cluster of up to 11 solar PV plants totaling 13 MWp for industrial and commercial companies originated by Solarnub, a trading management platform for solar companies. Finally, AEET has invested in combined heat and power (CHP) projects in the UK developed by three separate energy service companies (ESCOs) with whom additional investments are expected to be made.
- Pantheon Infrastructure (PIN) has agreed to invest, subject to EU Merger Clearance, €47m (£40m) in Fudura, a market leading business-to-business owner and provider of medium-voltage electricity infrastructure in the Netherlands, with a focus on transformers, metering devices and related data services. PINT co-invested alongside DIF Capital Partners. PINT’s manager said: ‘The investment in Fudura fits well with our objectives and PINT’s strategy and we look forward to our partnership with DIF on this asset.’
- F&C (FCIT) has posted its half-year report for the six months to 30 June 2022, during which time it delivered a NAV total return of -9.6%, whilst its benchmark fell by 10.7%. A widening in the company’s discount from 7.3% to 9.6%, meant that the shareholder total return was -11.8%. The team attributed the performance to a substantial rise in inflation, caused by sharply rising energy prices after Russia’s invasion of Ukraine, coupled with post-Covid supply chain issues. The company paid a final dividend of 3.8p in May and drew down 1.7 pence per share from its revenue reserve to help fund the full year dividend of 12.8 pence. The chair said that despite a strong recovery from the pandemic, there remains significant uncertainty with respect to its full year income but, at this point, it is unlikely that earnings will cover the full year dividend payment to shareholders. Therefore, as was the case in 2021, F&C expects to fund a proportion of the annual payment from its revenue reserves, which continue to represent over one year’s worth of annual dividends.
- Home REIT (HOME) has been added as a constituent of the FTSE 250 Index.
- Primary Health Properties (PHP) has acquired the Strawberry Hill Medical Centre, Newbury for £7.25m. The property is fully let to two GP practices, providing 100% government backed income, with an unexpired term of 19 years, and benefits from facilities for carrying out broader medical services such as minor operations and blood tests. Following completion, PHP’s portfolio comprises 512 assets, of which 20 are in Ireland, with a contracted rent roll of £143m.
We also have an annual report from SVM UK Emerging.