Overview
SDCL Energy Efficiency Income Trust aims to deliver cheaper, cleaner, more reliable energy solutions to commercial, industrial and public sector users. It believes that the shift to energy efficiency and onsite generation is critical to reducing energy consumption and emissions. Projects that the trust invests in either provide decentralised on-site generation of power and heat, or projects which reduce energy demand. The portfolio comprises assets across the UK, Europe and North America.
The objective is to generate an attractive total return for investors comprising stable dividend income and capital preservation, with the opportunity for capital growth. It delivers this to shareholders through its investment in a diversified portfolio of energy efficiency projects that deliver lower cost, cleaner and more reliable energy solutions to end users of energy.
You can access the company’s website here
Fundamentals
Price
Research History
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19 Jan 2024 1 min read
Interview with Purvi Sapre from SDCL Energy Efficiency Income Trust
In this week’s show, James Carthew spoke to Purvi Sapre from SDCL Energy Efficiency Income Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you […]
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14 Oct 2022 1 min read
Interview with Jonathan Maxwell from SDCL Energy Efficiency
In this week’s show, James Carthew talked to Jonathan Maxwell from SDCL Energy Efficiency. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker, you’d particularly like to hear from, please email us. Additionally, if you would prefer to watch […]
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13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
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06 Oct 2022 9 min read
QuotedData’s Investment Companies Roundup – October 2022
Investment Companies Monthly Roundup Kindly sponsored by Baillie Gifford and abrdn October 2022 Monthly | Investment companies Winners and losers in September 2022 September’s median total share price return was -6.4% (+0.4% in August). The median NAV return over September was -1.2%. See Appendix 1 for a breakdown of how all the sectors have […]
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28 Jan 2022 1 min read
Interview with Jonathan Maxwell of SDCL Energy Efficiency Income Trust
In this week’s show, James Carthew talked to Jonathan Maxwell of SDCL Energy Efficiency Income Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us. Additionally, if you […]
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24 Nov 2020 2 min read
QuotedData’s ESG Conference – week 1 Environmental day playback
On the 24th November QuotedData hosted the first of three ESG focused webinars. This Environmental webinar began with an overview from the AIC on the growth of ESG in the sector and was followed by presentations and Q&As from 3 investment companies’ managers focused on providing renewables solutions such as wind farms, solar power and energy […]
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07 Jul 2020 7 min read
QuotedData’s Investment Companies Roundup – July 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over June: CQS New City High Yield – […]
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24 Apr 2020 1 min read
QuotedData’s weekly roundup 24 April 2020
James Carthew’s weekly news roundup show for Friday, 24th April, covers a wide range of topics and includes an interview with Jonathan Maxwell, CEO of SDCL, which is the manager of SDCL Energy Efficiency Income. Listen back here If there is a guest speaker you’d particularly like to hear from, please email us – [email protected]. […]
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07 Apr 2020 5 min read
QuotedData’s Economic Roundup – April 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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10 Jan 2020 8 min read
QuotedData’s economic roundup – January 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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05 Jul 2019 6 min read
QuotedData’s economic roundup – July 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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08 May 2019 3 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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18 Jan 2019 1 min read
QuotedData’s investment companies roundup – January 2019
QuotedData’s investment companies roundup – January 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2018. Kindly sponsored by Baillie Gifford. Extract from money raised and returned in December The only new issue […]
News
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04 Dec 2024 3 min read
QuotedData’s morning briefing 4 December 2024 – ARR, SEIT, PNL, MNKS, INOV
In QuotedData’s morning briefing 4 December 2024: Aurora UK Alpha (ARR) announced that following the proposed combination with Artemis Alpha Trust, it has changed its name to Aurora UK Alpha plc. The company will continue to trade under the ticker ARR. SDCL Energy Efficiency Income (SEIT) announced its interim results for the six months to […]
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30 Sep 2024 2 min read
QuotedData’s morning briefing 30 September 2024 – SEIT, HOME, AERI
In QuotedData’s morning briefing 30 September 2024: SDCL Energy Efficiency Income (SEIT) has published an interim update statement. It says that its operational assets are performing in line with expectations, on a consolidated basis, and that the portfolio is also well positioned for growth. Two of SEIT’s largest investments, Onyx, an established provider of distributed […]
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25 Jul 2024 1 min read
QuotedData’s morning briefing 25 July 2024 – JEDT, SEIT, NSI, BGFD
In QuotedData’s morning briefing 25 July 2024: JPMorgan European Discovery (JEDT) has announced a timetable for the first of the tenders that were announced on 20 June. There will be a meeting on 2 September to approve the tender. Forms will need to be in by 3 September, the result of the tender will be […]
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27 Jun 2024 4 min read
SDCL Energy Efficiency Income NAV impacted by higher discount rate
SDCL Energy Efficiency Income Trust (SEIT) has published its annual results for the year ended 31 March 2024, during which its NAV has fallen to 90.5p per share as at 31 March 2024 from 101.5p a year prior. This includes a reduction of 11p from a 90bps increase in weighted average unlevered discount rate during […]
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18 Jun 2024 2 min read
QuotedData’s morning briefing 18 June 2024 – ADIG, SYNC, RESI, DCI, SONG, SEIT
In QuotedData’s morning briefing 18 June 2024: abrdn Diversified Income & Growth (ADIG) has announced details of its planned return of £115m of capital (38p per share) via a B share scheme. The distribution needs to be approved at a meeting that will be held on 3 July 2024. The money should be with shareholders […]
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07 May 2024 1 min read
QuotedData’s morning briefing 7 May 2023 – APAX, SEIT, AEIT
In QuotedData’s morning briefing 7 May 2023: An affiliate of the Apax IX Fund in which Apax Global Alpha Limited (APAX) is a limited partner, announced the sale of its controlling interest in Healthium MedTech Ltd, a leading Indian medical devices player. This transaction values the look-through investment in Healthium at approximately €22.7m. This represents […]
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19 Mar 2024 1 min read
QuotedData’s morning briefing 19 March 2024 – SEIT, SHIP, PINT
In QuotedData’s morning briefing 19 March 2024: SDCL Energy Efficiency Income Trust (SEIT) provided an interim update for the period from 1 October 2023 to 18 March 2024. The company noted that it is on track to deliver fully cash covered aggregate dividends of 6.24p per share for the financial year to 31 March 2024 […]
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05 Feb 2024 2 min read
QuotedData’s morning briefing 5 February 2024 – CVCE, INOV, PEY, GSF, HGT, SEIT
In QuotedData’s morning briefing for 5 February 2024: CVC Income & Growth (CVCE) has announced an increase in its annual dividend targets, increased to 8.25p per ordinary sterling share and 7.25c per ordinary euro share. This means that CVCE’s quarterly dividends will be increased to 2.0625p per sterling share and 1.8125c per euro share. Schroders […]
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04 Dec 2023 3 min read
QuotedData’s morning briefing 4 December 2023 – GSF, SEQI, SYNC, SBO, INOV, IGC, JLEN, SEIT
In QuotedData’s morning briefing 4 December 2023: Gore Street Energy Storage Fund (GSF) has announced that its investment manager, Gore Street Capital, has been selected as the co-manager of Japan’s first dedicated fund for grid storage batteries, with the Tokyo Metropolitan Government as the cornerstone investor, contributing £10.6m to the fund. Sequoia Economic Infrastructure Income Fund […]
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06 Oct 2023 1 min read
SDCL Energy Efficiency Income acquires outstanding Future Energy Solutions loan
SDCL Energy Efficiency Income Trust (SEIT) has acquired the outstanding balance of loan facilities secured against an operational portfolio of LED lighting projects, in the USA, held by Future Energy Solutions Lighting Holdings (FES), which is already a SEIT portfolio company. SEIT acquired the loan for approximately $31m (£25m) and its purchase gives SEIT the […]
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28 Jun 2023 3 min read
SDCL Energy Efficiency Income targeting 4% dividend increase for current financial year
SDCL Energy Efficiency Income (SEIT) has announced its annual results for the year ended 31 March 2023. Key highlights from the report are as follows: Net Asset Value (NAV) per share of 101.5p as at 31 March 2023 (31 March 2022: 108.4p), which includes a reduction of 7.3p from 70bps increase in weighted average unlevered […]
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3 min read
QuotedData’s morning briefing 28 June 2023
In QuotedData’s morning briefing 28 June 2023: Atrato Onsite Energy (ROOF) has signed a power purchase agreement (PPA) to sell the electricity generated by Project Skeeby, a 50MW solar PV project in Richmond, North Yorkshire. As announced in April, Skeeby is a recent acquisition and is currently under installation, with an expected energisation date of […]
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08 Dec 2022 1 min read
QuotedData’s morning briefing 8 December 2022
In QuotedData’s morning briefing 8 December 2022: Hipgnosis Songs (SONG) has published its interim accounts. Net cash generated from operating activities rose by 6.9% to $45.5m, but the interest paid rose to $15.0m from $10.7m and the fund incurred additional borrowing costs of $6.2m as it fixed the cost of its debt. A weaker US […]
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23 Nov 2022 1 min read
SDCL Energy Efficiency Income Trust makes loan to BlocPower Energy Services
SDCL Energy Efficiency Income Trust (SEIT) has signed an agreement to finance the design, acquisition and installation of energy efficiency solutions across various buildings in the US for BlocPower Energy Services 2 LLC , a wholly owned subsidiary of leading energy efficiency developer BlocPower LLC, through a 10% participation in a US$80m loan facility. BlocPower […]
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04 Oct 2022 2 min read
Key personnel at SDCL taking advantage of share price weakness
SDCL Energy Efficiency says that it recognises that recent market volatility has resulted in its share price trading below its most recently published NAV per share [7.5% at close of play last night, better than the 15% it was at last Thursday night, when we were making the slides for the weekly show, but unusual […]
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07 Sep 2022 1 min read
QuotedData’s morning briefing 7 September 2022
In QuotedData’s morning briefing 7 September 2022: SDCL Energy Efficiency Income Trust (SEIT) says its issue was oversubscribed and has been expanded to £135m, accordingly the company will issue a total of 118,421,053 new ordinary shares at 114p of which 5,139,370 relate to the retail investor offer. It is expected that dealings in the new […]
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02 Sep 2022 1 min read
QuotedData’s weekly news show 2nd September 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana covered the week’s top stories: SDCL Energy Efficiency Income Trian Investors 1 This week’s interview was with Tim Levene from Augmentum Fintech and Andrew McHattie from Investment Trust Newsletter – […]
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01 Sep 2022 2 min read
SDCL Energy Efficiency Income looking to raise £100m
SDCL Energy Efficiency Income looking to raise £100m – SDCL Energy Efficiency Income (SEIT) has announced a proposed placing to raise around £100m through an issue of new ordinary shares at a price expected to be in the range of 113 pence to 117 pence per new ordinary share. In addition to the placing, SEIT […]
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16 Aug 2022 1 min read
SDCL Energy Efficiency backs US energy storage provider
SDCL Energy Efficiency Income has signed an agreement to provide a convertible loan of up to $10m in On.Energy Storage LLC, a battery energy storage system (BESS) and microgrids solutions provider, headquartered in the US. The trust has also provided a conditional commitment to fund up to $100m in qualifying commercial & industrial energy storage […]
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12 Jul 2022 1 min read
SDCL Energy Efficiency Income to acquire £100m portfolio from United Utilities Group
SDCL Energy Efficiency Income to acquire £100m portfolio from United Utilities Group – SDCL Energy Efficiency Income (SEIT) has signed an agreement to acquire a portfolio of on-site, predominantly solar PV operational projects from United Utilities Group for approximately £100m. SEIT will acquire a 100% interest in United Utilities Renewable Energy, which is a portfolio totalling […]
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30 Jun 2022 2 min read
SDCL Energy Efficiency powers ahead
SDCL Energy Efficiency Income Trust has announced its financial results for the year ended 31 March 2022. The NAV total return for the period was 11.2%. Earnings per share of 10p (up from 7p) comfortably cover a dividend of 5.62p (as does cash generated by the portfolio which covered the dividend 1.2x). The dividend target […]
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23 May 2022 2 min read
QuotedData’s morning briefing 23 May 2022
In QuotedData’s morning briefing 23 May 2022: Pantheon Infrastructure (PINT) has invested approximately $46.1m (£37m) in Cartier Energy, a district energy platform in the US. The business is made up of eight district energy systems located across the Northeast, Mid-Atlantic and Midwest and provides diversified energy services such as heat (steam, hot water), cooling (chilled […]
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11 Apr 2022 2 min read
QuotedData’s morning briefing 11 April 2022
In QuotedData’s morning briefing 11 April 2022: Foresight Solar (FSFL) has reached final approval for the portfolio refinance of the Oakey 1 Solar Farm (O1) and Longreach Solar Farm (LR) portfolios with ANZ and Deutsche Bank for a term facility of approximately A$59m plus a debt service reserve facility of approximately A$1m. The portfolio will […]
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24 Mar 2022 2 min read
SDCL Energy Efficiency wants £75m
SDCL Energy Efficiency wants £75m – SDCL Energy Efficiency Income Trust has announced a proposed placing to raise £75m through an issue of new ordinary shares. The placing will be non pre-emptive (existing shareholders don’t get any preferential treatment). Jefferies International Limited has commenced a book-building process to determine the level of demand from potential investors for participation […]
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07 Feb 2022 1 min read
SDCL buys Portuguese biomass plant
SDCL buys Portuguese biomass plant – SDCL Energy Efficiency (SEIT) has agreed to acquire 80% equity interest in a high-efficiency and operational biomass cogeneration plant, Sociedade de Iniciativa e Aproveitamentos Florestais – Energia, S.A, in Mangualde, Portugal for approximately €22m. SIAF generates heat and power from sustainably sourced biomass and supplies critical onsite heat to an […]
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10 Dec 2021 2 min read
QuotedData’s morning briefing 10 December 2021
In QuotedData’s morning briefing 10 December 2021: Miton Global Opportunities (MIGO) has announced that it has changed its name to MIGO Opportunities Trust, in order to make it easier 1) for potential investors to find and identify the company, which it says has increasingly become known as MIGO, and 2) promoting its success in the […]
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22 Nov 2021 3 min read
QuotedData’s morning briefing 22 November 2021
In QuotedData’s morning briefing 22 November 2021: Aquila European Renewables Income (AERI) has achieved a four out of a five-star rating following its GRESB assessment, an investor-driven global ESG benchmark and reporting framework to help evaluate complex sustainability issues. With an overall GRESB Score of 84, the fund scores above the GRESB average of 77 […]
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26 Oct 2021 2 min read
SDCL updates on investment activity
SDCL updates on investment activity – SDCL Energy Efficiency Income Trust (SEIT) has updated investors on its recent investment and financing activity. The LYCRA Company SEIT has made an investment commitment of c.£3m to implement, finance and own the replacement of an energy efficient chiller system at The LYCRA Company’s Singapore facility. Construction has commenced […]
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23 Sep 2021 2 min read
QuotedData’s morning briefing 23 September 2021
In QuotedData’s morning briefing 23 September 2021: Acorn Income has published a circular convening the meetings necessary to get shareholder approval for its plan to liquidate and offer investors a choice of cash or a rollover into an open-ended fund managed by Unicorn – the Unicorn UK Income Fund – this will be the default […]
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17 Sep 2021 1 min read
SDCL Energy Efficiency Income raises £250m in oversubscribed issue
SDCL Energy Efficiency Income (SEIT) has announced that it has raised £250m from its oversubscribed issue, reflecting a strong level of support from both institutional and retail investors. Given the level of demand and the company’s acquisition pipeline, the Board has decided to increase the target size of the Issue from gross proceeds of £175 […]
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01 Sep 2021 1 min read
QuotedData’s morning briefing 1 September 2021
In QuotedData’s morning briefing 1 September 2021: PS VII Master (PSVII), an affiliated co-investment vehicle of Pershing Square Holdings (PSH) has notified Vivendi S.E. that it plans to exercise its option to acquire 52,769,098 ordinary shares of Universal Music Group, representing 2.9% of the company, for approximately $21.78 per share. This comes after the board of PSH’s […]
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16 Jul 2021 2 min read
SDCL Energy Efficiency Income invests in Indiana green gas project
SDCL Energy Efficiency Income (SEIT) has agreed to invest approximately $31 million in a large-scale green gas-to-grid project in Indiana, in the US. The anaerobic digestion (AD) facility, which is located in Reynolds, has been operating since 2012. It currently converts cattle manure and food waste into 6 MW of renewable power. This power is […]
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15 Jul 2021 2 min read
QuotedData’s morning briefing 15 July 2021
In QuotedData’s morning briefing 15 July 2021: Schroder BSC Social Impact (SBSI) has invested a further £5m into Social and Sustainable Housing LP (SASH), following its first £5m commitment in December 2020. The holding sits in SBSI’s high impact housing allocation of its portfolio. Following this development, the trust’s portfolio is now 97% committed, with 66% […]
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24 Jun 2021 2 min read
SDCL Energy Efficiency Income makes use of new placing programme in tough year
SDCL Energy Efficiency Income makes use of new placing programme in tough year – SDCL Energy Efficiency Income (SEIT) has announced its annual results for the 12 months to 31 March 2021. For the year, it posted a total NAV return of 8% and an aggregate dividend of 5.5p per share. In June 2020, SEIT […]
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09 Apr 2021 1 min read
QuotedData’s weekly news show 9 April 2021
QuotedData’s weekly news show 9 April 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Schroder UK Public Private slashed the value of its Rutherford Health investment to £34m from £81m SDCL Energy Efficiency’s […]
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06 Apr 2021 1 min read
SDCL buys US district energy business
SDCL buys US district energy business – SDCL Energy Efficiency Income Trust has agreed to acquire a 100% equity interest in a commercial district energy system, RED-Rochester, LLC for an equity cash consideration of approximately $177m. RED is one of North America’s largest district energy systems with 117 MW of steam turbine generators plus boilers, chillers […]
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29 Mar 2021 2 min read
SDCL Energy Efficiency Income seals deal with the UK’s largest operator of public electric vehicle charging points
SDCL Energy Efficiency Income (SEIT) announced that it has signed an agreement with Chargemaster (bp pulse), the UK’s largest operator of public electric vehicle (EV) charging points. As first announced on 6 August 2020, SEIT made an initial £50m investment commitment to The Electric Vehicle Network (EVN) as its development partner in EV charging infrastructure. ‘Electric vehicle sales in […]
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05 Mar 2021 2 min read
SDCL Energy Efficiency Income signs agreements with two development partners
SDCL Energy Efficiency Income Trust (SEIT) has announced that it has signed framework agreements with two preferred development partners providing it with the right to invest in a series of energy efficiency assets in the UK and the United States. SEIT says that such framework agreements, with established developers and partners, can generate valuable organic […]
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04 Mar 2021 2 min read
QuotedData’s morning briefing 4 March 2021
In QuotedData’s morning briefing 4 March 2021: International Public Partnerships (INPP) has renewed its corporate debt facility for a further three years to March 2024. The new facility has the same overall £400m capacity but is structured more efficiently as £250m on a fully committed basis together with a flexible ‘accordion’ component which will allow for […]
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01 Mar 2021 2 min read
QuotedData’s morning briefing 1 March 2021
In QuotedData’s morning briefing 1 March 2021 – SDCL Energy Efficiency Income (SEIT) noted that further to its announcement on 24 December 2020, it has completed the acquisition of a series of portfolios of commercial and industrial on-site solar and energy storage projects in the United States, together with a 50% interest in the platform that has […]
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04 Feb 2021 2 min read
QuotedData’s morning briefing 4 February 2021
In QuotedData’s morning briefing 4 February 2021: SDCL Energy Efficiency Income Trust have announced a £100m placing (94.3m shares at 106p). The price is a 3.9% premium to the end September NAV and a 1.4% discount to last night’s closing price. The money would go into commercial and industrial solar projects across the United States in […]
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08 Jan 2021 3 min read
QD view – Nothin’ but blue skies from now on…
The riot in the Capitol Building may be dominating headlines but hopefully the orange cloud over Washington may soon dissipate. Does that mean Nothin’ but blue skies from now on…? For investors, one of the key events if 2021 to date may be the Democrat’s wins in the Georgia senate races. Joe Biden will now have […]
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04 Jan 2021 1 min read
QuotedData’s morning briefing 4 January 2021
In QuotedData’s morning briefing 4 January 2021 – SDCL Energy Efficiency Income (SEIT) announced the acquisition of an additional 15% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar LLC for a cash consideration of approximately $36m. SEIT acquired an initial 50% interest in Primary Energy in […]
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24 Dec 2020 2 min read
SDCL Energy achieves critical mass in US
SDCL Energy achieves critical mass in US – SDCL Energy Efficiency Income Trust has agreed to acquire a series of portfolios of commercial and industrial on-site solar and energy storage projects in the United States, together with a 50% interest in the platform that has created them, Onyx Renewable Partners from funds managed by Blackstone for […]
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19 Oct 2020 2 min read
SDCL Energy Efficiency buys Värtan Gas Stockholm
SDCL Energy Efficiency’s placing raised £105m at 100p per share against its target of £80m. Even with the expanded target, the issue was significantly oversubscribed. The announcement on Friday said that there had been “further positive progress with the negotiations to acquire an established, operational and regulated energy network in a major Western European city“. […]
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13 Oct 2020 1 min read
QuotedData’s morning briefing 13 October 2020
In QuotedData’s morning briefing 13 October 2020 Seneca’s manager changing hands – Seneca Global Income & Growth says Momentum Global Investment Management plans to buy Seneca Investment Managers. The board is happy with this move as the two share a similar investment approach. SDCL Energy Efficiency has launched an £80m placing – it hopes to issue […]
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01 Oct 2020 2 min read
QuotedData’s morning briefing 1 October 2020
In QuotedData’s morning briefing 1 October 2020: Octopus Renewables Infrastructure Trust is buying four solar PV sites in Andalucia, which are expected to be ready to build by January 2023. The assets will have a total installed capacity of 175MWp and are expected to become operational in early 2024. The company is not taking any development risk […]
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10 Sep 2020 2 min read
SDCL Energy Efficiency buys CHP portfolio
SDCL Energy Efficiency buys CHP portfolio – SDCL Energy Efficiency Income Trust has bought a portfolio of energy efficiency projects in the UK from GET Solutions, a leading UK energy solutions provider for businesses. The initial cash consideration is approximately £5m to be invested over the next four months to acquire an initial portfolio, with an […]
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25 Aug 2020 1 min read
New issue – Triple Point Energy Efficiency
New issue – Triple Point Energy Efficiency – Triple Point Energy Efficiency Infrastructure Company plc will, if it raises enough money, be a closed-ended investment company established to invest in a diverse portfolio of energy efficiency assets in the United Kingdom. It plans to seek admission to trading on the Specialist Fund Segment of the Main […]
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07 Aug 2020 1 min read
QuotedData’s weekly news show 7 August 2020
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: SDCL Energy Efficiency’s foray into EV charging Hipgnosis C shares and NAVs Hammerson’s expensive rights issue Syncona’s IPO of Freeline Watch it again here We’ll be back next week […]
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06 Aug 2020 2 min read
SDCL Energy Efficiency buys EV charging portfolio
SDCL Energy Efficiency buys EV charging portfolio – SDCL Energy Efficiency Income Trust has entered into an agreement with Electric Vehicle Network (EVN) to buy a portfolio of 112 rapid and ultra-fast electric vehicle (EV) charging stations across the UK for a total consideration of up to £50m. The EV charging sites will be developed and funded […]
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24 Jun 2020 1 min read
QuotedData’s morning briefing 24 June 2020
SDCL Energy Efficiency Income (SEIT) announced that after seeing the strong support given to the initial issue of new ordinary shares, announced on 18 June, the issue size has been increased from £60m to £110m. Augmentum Fintech (AUGM) announced that portfolio company, Zopa, has been awarded its full banking licence by the Prudential Regulatory Authority. […]
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19 Jun 2020 2 min read
Sunny outlook for SDCL
One of the funds looking to raise money this week is SDCL Energy Efficiency Income Trust (SEIT). The fund is designed to produce income from investments in projects designed to improve energy efficiency, save companies money and contribute towards reductions in carbon emissions. On Thursday, it announced results for the year ended 31 March 2020 […]
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18 Jun 2020 2 min read
SDCL Energy Efficiency to expand after successful year
SDCL Energy Efficiency to expand after successful year – SDCL Energy Efficiency Income has announced results for the year ended 31 March 2020 and is looking to expand. The NAV increased from 98.4p at 31 March 2019 to 101.0p at 31 March 2020 and earnings per share were 5.2p and the company paid dividends of 5p in […]
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18 May 2020 1 min read
QuotedData’s morning briefing 18 May 2020
In a trading update, ahead of its annual results (to be published on or around 15 June), Jonathan Maxwell, the CEO of SDCL Energy Efficiency Income (SEIT)’s manager, noted: “In spite of the unprecedented global situation around covid-19, the portfolio continues to perform in line with expectations and deliver cheaper, cleaner and more reliable energy […]
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23 Mar 2020 2 min read
SDCL Energy Efficiency Income says no material counterparty concerns raised to-date
SDCL Energy Efficiency Income (SEIT), the renewable energy infrastructure company, released an update. The company’s manager and board believe that SEIT’s portfolio remains well placed to continue to generate an attractive total return for investors. SEIT noted: “The company’s portfolio currently consists of 26 energy efficiency investments located in the UK, continental Europe and North […]
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11 Feb 2020 1 min read
QuotedData’s other news 11 February 2020
In QuotedData’s other news 11 February 2020 – Investment Company (INV), which invests in the UK growth and income sector, reported interim results to 31 December 2019. Over the period. the company’s NAV increased by 7.61 %, compared with the FTSE all-share index’s 3.44% return. We also have a major update on the future of Hadrian’s Wall […]
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1 min read
SDCL Energy Efficiency Income to seek approval to remove 25% UK minimum exposure
Taking account of the quality of the acquisition pipeline in North America and continental Europe, SDCL Energy Efficiency Income (SEIT)’s board looks set to seek shareholder approval to remove the 25% minimum exposure limit to UK-based assets, which was adopted at the time of its IPO in December 2018. SEIT says the removal of the limit would […]
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05 Feb 2020 1 min read
SDCL Energy Efficiency Income completes $110m US deal
The renewable energy infrastructure company, SDCL Energy Efficiency Income (SEIT), has finalised the acquisition of a 50% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, for an equity cash value of around $110m. The deal was initially announced on 30 December 2019 – you can read more on it […]
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30 Dec 2019 2 min read
SDCL Energy acquires 50% stake in US energy portfolio for $110m
SDCL Energy Efficiency Income Trust (SEIT), the first UK-listed investment company of its kind to invest exclusively in the energy efficiency sector, has agreed to acquire a 50% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar for an equity cash consideration […]
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19 Dec 2019 1 min read
QuotedData’s other news 19 December 2019
In QuotedData’s other news 19 December 2019 GCP Student Living hopes to riase £75m from a placing of shares at 186p (a 10.4% premium to the EPRA NAV and a 6.3% discount to the current share price). The money would be used to help fund the purchase of Scape Canalside in Mile End, London. EJF Investments […]
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18 Dec 2019 2 min read
SDCL Energy Efficiency Income announces £40m placing
SDCL Energy Efficiency Income (SDCL) has announced a £40m placing at 104p per share. The placing price represents a discount of approximately 5.5% SDCL’s closing price on 17 December 2019 of 110p per share, and a premium of approximately 5.1% to the trust’s NAV per share of 99.0p as at 30 September 2019. The placing was announced after […]
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18 Oct 2019 1 min read
QuotedData’s other news 18 October 2019
In QuotedData’s other news 18 October 2019 Gore Street Energy Storage says its 9.0MW storage project at the Port of Tilbury is now operational. The behind-the-meter energy storage project benefits from a diversity of income sources including Triad revenues, a secured Fast Frequency Response (FFR) contract and a capacity market contract. It is using batteries from […]
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11 Oct 2019 1 min read
SDCL Energy Efficiency Income targets more capital to fund growth
SDCL Energy Efficiency Income targets more capital to fund growth – The board of SDCL Energy Efficiency Income (SEIT) has announced a proposed placing of new ordinary shares under its existing share issuance programme to institutional investors at a price of 103 pence per share. In addition, the company today announced that the unaudited estimated NAV as […]
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20 Sep 2019 1 min read
QuotedData’s other news 20 September 2019
In QuotedData’s other news 20 September 2019 – Tufton Oceanic Assets today announced that it has raised gross proceeds of $31m through a placing. The company invests in a portfolio of secondhand commercial sea-going vessels. Further to announcements made earlier this month with regard to a proposed placing, Merian Chrysalis says that indicative orders significantly in excess of […]
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1 min read
SDCL Energy Efficiency Income in EUR64m Spanish cogeneration deal
SDCL Energy Efficiency Income in EUR64m Spanish cogeneration deal – SDCL Energy Efficiency Income (SEIT) has struck a deal to acquire a portfolio of cogeneration assets in Spain for around EUR64m. SEIT says that the substantial majority of the portfolio’s revenues are investment grade, with nine operational projects providing in aggregate 125 MW of clean and efficient […]
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09 Sep 2019 1 min read
SDCL Energy Efficiency Income makes $22m loan investment
SDCL Energy Efficiency Income makes $22m loan investment – SDCL Energy Efficiency Income (SDCL) has announced a $22m investment, structured as a portfolio of secured senior and subordinated loans, into a diversified portfolio of contracts. The investment includes a portfolio of loans, leases and subscription agreements relating to energy systems outsourcing and energy efficiency projects located across […]
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27 Jun 2019 2 min read
SDCL Energy Efficiency Income reports inaugural results
SDCL Energy Efficiency Income reports inaugural results – SDCL Energy Efficiency Income (SEIT) is one of the newer investment trusts having listed in December 2018, raising £100m. It has this morning released its inaugural set of annual results, covering the period to 31 March 2019. The market for energy efficiency is rampant globally, which has […]
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17 Apr 2019 1 min read
QuotedData’s other news – 17 April 2019
QuotedData’s other news – 17 April 2019 AVI Japan Opportunity (AJOT) announced this morning that based on a conviction that there is still a significant amount of unlocked value in quality over-capitalised smaller companies in Japan, it is considering raising additional capital through a share issue. AJOT floated in October 2018 and by February this […]
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1 min read
SDCL Energy Efficiency Income raises £72m
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 […]
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07 Mar 2019 2 min read
SDCL Energy Efficiency Income makes first US acquisition
SDCL Energy Efficiency Income makes first US acquisition – SDCL Energy Efficiency Income Trust (SEIT), which listed on the London Stock Exchange on 11 December 2018 having raised £100m from its IPO, has announced that it has completed the acquisition of a 71% interest in a high-quality Combined Heat and Power (“CHP”) portfolio. The portfolio consists […]
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19 Dec 2018 1 min read
SDCL Energy Efficiency Income Trust acquires its seed portfolio
SDCL Energy Efficiency Income Trust (SEIT), which listed on the London Stock Exchange on 11 December 2018 having raised £100m from its IPO, has announced that it has completed the acquisition of its seed portfolio for £87m million. SEIT has that the terms of the acquisition are in accordance with its prospectus that was published […]
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03 Dec 2024 1 min read
Investment trust insider on Trump, climate change and the environment
Investment trust insider on Trump, climate change and the environment – James Carthew: The renewable trusts in Trump’s firing line President-elect Donald Trump could row back policies including the US Inflation Reduction Act, which would knock trusts with exposure to tax credits and tariffs In recent weeks, I’ve been looking at the possible impact of […]
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18 Jun 2024 2 min read
Investment trust insider on US infrastructure
Investment trust insider on US infrastructure – James Carthew: Power up your portfolio with US infrastructure trusts While there may be some political noise in the run up to the presidential election, the long-term case for investments in US renewable infrastructure is pretty solid. While all eyes have been on the meteoric rise of Nvidia, […]
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30 Apr 2024 1 min read
Income investment trusts yielding above 4% and beating inflation
by Kyle Caldwell from interactive investor, 30th April 2024: For income-seeking investors, the ideal scenario is to find a fund with a high yield that delivers inflation-beating dividend growth and produces positive total returns (capital growth and income returns combined). However, ticking all three boxes is hard to consistently achieve, which is reflected in research […]
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15 Apr 2024 1 min read
Investment trust insider on benefiting from yield while waiting for a re-rating
Investment trust insider on benefiting from yield while waiting for a re-rating – James Carthew: I’ve bought two more renewables, now looking at UK equity income Disappointing inflation figures look likely to delay the start of interest rate cuts in the US. This is an unhelpful development for the many investment company sectors that have […]
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1 min read
Investment trusts get cheap, again
by Dave Baxter, Investors’ Chronicle, April 12, 2024: A recovery in the investment trust sector has faltered in the first quarter, leaving plenty of options for bargain hunters. The lively market rally that took hold in late 2023 saw many trust shares ride high and discounts to net asset value (NAV) come in somewhat. That […]
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11 Mar 2024 1 min read
Investment trust insider on renewables
Investment trust insider on renewables – James Carthew: ‘Buy’ great opportunities in run-down renewables Last month’s rise in US inflation knocked UK renewables funds, which I was happy to exploit. Don’t be surprised if we see bids in the sector. February was an odd month for markets and the main culprit was stronger-than-expected US inflation […]
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26 Feb 2024 2 min read
Perfect Storm
Cherry Reynard, Portfolio Adviser Magazine, February 2024: Investment trusts have a well-deserved reputation as an effective way to manage such illiquid assets as property, smaller companies and infrastructure, yet the past 18 months have also highlighted the problems of this type of vehicle, as discounts have widened in response to higher interest rates, cost-disclosure problems […]
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14 Feb 2024 1 min read
Political infrastructure failings can be fixed
By James Carthew, QuotedData, for Trustnet, 14 February 2024: The Labour Party’s decision to abandon its green spending plan has attracted criticism from all sides. Its stance is that it was a plan born in a time of lower borrowing rates that is not feasible now However, there is an awful lot of investment needed […]
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03 Jan 2024 1 min read
Are investment trust discounts getting out of hand?
by Jennifer Hill from interactive investor, 28th December 2023: Risk-off sentiment has pushed investment trust discounts to historically wide levels and many boards have been proactively trying to address the issue. This year will be a record for share buybacks with almost £3.5 billion of investment trust share buybacks in the first 11 months, data […]
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28 Feb 2023 1 min read
Future of Aquila Energy Efficiency uncertain as investors look set to vote against continuation
Valeria Martinez, Investment Week, 28 February 2023: The Aquila Energy Efficiency trust looks set to fail its continuation resolution, as over half of proxy votes cast so far have come against it. In a London Stock Exchange announcement yesterday afternoon (27 February), the company revealed that votes representing 83,768,843 shares (83.8% of share capital) had […]
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1 min read
Aquila Energy jumps as investors vote against continuation
BY GAVIN LUMSDEN, Investment Trust Insider, 28 Feb 2023: A majority of proxy votes have gone against Aquila Energy Efficiency Trust (AEET) which looks to fail its continuation vote today. Shares in the £70m renewables fund jumped 6.5% yesterday afternoon, narrowing its wide discount to 19%, after the company announced that 55.6% of votes cast […]
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12 Jul 2022 1 min read
The best renewable energy infrastructure trusts
By Cherry Reynard, Investors’ Chronicle, July 6, 2022: Amid febrile stock markets, renewable energy infrastructure trusts should be a rare sweet spot. They offer inflation protection at a time of double-digit price rises, high dividends when income is scarce and access to renewables as policymakers strive to decarbonise. They are also exposed to rising power […]
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17 Jan 2022 1 min read
Investment trust insider on energy efficiency
Investment trust insider on energy efficiency – James Carthew: The mixed fortunes of energy efficiency Many strands must come together if we are to achieve our goal of cutting carbon emissions to net zero. The renewable energy infrastructure sector is central to this, but we need to do more than shift to renewable energy generation. […]
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23 Dec 2021 1 min read
Build your portfolio upon infrastructure
By ANNE ASHWORTH FOR THE DAILY MAIL 10 December 2021 The word ‘infrastructure’ carries a suggestion of solidity at an uneasy time. This is one of the reasons for the upsurge of interest in the sector, which encompasses bridges, hospitals, roads and schools, but also renewable energy generators and the data centres, fibre-optic networks and mobile […]
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15 Nov 2021 1 min read
Renewable trust NAV declines are unnerving some investors
QuotedData’s James Carthew looks at how declining forecasts of long-term power prices are impacting renewable investment trusts ESGClarity, 15 November 2021 / Opinion Following a successful £210m new issue from Harmony Energy Income, there are now 20 companies in the AIC’s renewable energy sector and at least two more – Atrato Onsite Energy and ThomasLloyd Energy […]
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1 min read
Renewable energy fuels new wave of investment trusts
Mary McDougall NOVEMBER 11 2021 Investment trusts focused on infrastructure, particularly those involved in renewable energy projects, have boomed this year as income-hungry investors and those wishing to back the energy transition have flocked to participate in record numbers of share issues. There is little sign of this momentum losing pace. One energy efficiency trust, […]
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25 Oct 2021 1 min read
Backing the winners in Boris Johnson’s £1trillion green gamble
Turn net zero into net profit! By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY 23 October 2021 As we prepare for a winter of sky-high energy prices, the question of how to heat our homes is understandably on many of our minds. It is a major issue for the Government, too. The country’s housing stock is old […]
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07 Jun 2021 1 min read
Investment trust insider on energy efficiency
Investment trust insider on energy efficiency – James Carthew: Aquila launch shows energy efficiency income building up steam Last week saw the fifth successful investment company flotation of 2021 with the launch of Aquila Energy Efficiency Trust (AEET). The £100m the initial public offer (IPO) raised was less than its £150m target, but matched the money […]
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13 Apr 2021 1 min read
Bridges and walls are the road to profit in the US recovery plan
Bridges and walls are the road to profit in the US recovery plan David Brenchley, Sunday April 11 2021, 12.01am, The Sunday Times While on the campaign trail to become president, Joe Biden pledged to “build bridges, not walls”. On April 1 he announced plans to build literal bridges, alongside other infrastructure projects, in a […]
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25 Jan 2021 1 min read
Can you cash in on a Biden bounce
Is America’s bubble about to burst – or can you cash in on a BIDEN BOUNCE as Democrat takes the reins By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY PUBLISHED: 21:50, 23 January 2021 | UPDATED: 10:38, 24 January 2021 In the last few days, the world’s eyes have been on the United States as the presidency has transferred from Donald […]
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08 Sep 2020 1 min read
Investment trust insider on new and newish funds
Investment trust insider on new and newish funds – James Carthew: Let’s hope new trusts are more open than recent launches After a long hiatus, the flotation window appears to be opening up. I thought this week I would have a look to see how the last crop of investment company launches – Nippon Active Value […]
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01 Sep 2020 1 min read
Investment trust launches could shake up their fledgling asset classes
First post-Covid-19 investment trust launches could shake up their fledgling asset classes David Brenchley, Investment Week 28 August 2020 Triple Point to IPO energy efficiency trust The post-Covid-19 investment trust IPO market is set to come alive, with competition for two current ‘sole players’ set to shake up their respective sectors. Triple Point Investment […]
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11 Dec 2019 1 min read
ICYA 2019: Shining the spotlight on the industry’s best-kept secret
ICYA 2019: Shining the spotlight on the industry’s best-kept secret Investment Week’s 21st annual Investment Company of the Year Awards were held at London’s Sheraton Park Lane at the end of last month. The awards aim to reward and recognise excellence in the closed-ended fund management space, using a combination of quantitative and qualitative analysis. […]
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24 Jan 2019 1 min read
Investment Trust Insider on SDCL Energy Efficiency Income
Investment Trust Insider on SDCL Energy Efficiency Income – James Carthew: cashing in on corporate energy saving Continuing my look at recent new issues, this week I turn to SDCL Energy Efficiency Income (SEIT) whose initial public offer (IPO) rather snuck up on me at the end of last year. The company published an intention to […]
