London-listed SDCL Energy Efficiency Income Trust (SEEIT) is proposing a placing to raise £100 million ($136.5 million).

New ordinary shares will be offered at 106p each, representing a 3.9% premium to the company’s 30 September 2020 NAV and a discount of 1.4% on the closing share price on 3 February 2021.

SEEIT says it has several opportunities to make add-on investments in projects in its existing portfolio, with a value of approximately £100 million. These include:

• investments in commercial and industrial solar projects across the United States in conjunction with Onyx
• investments in energy efficiency projects across the United States in conjunction with Sparkfund
• investments in electric vehicle charging infrastructure projects across the UK in conjunction with EV Networks

The manager is also working on a number of new investment opportunities that are in advanced stages of negotiation or due diligence. The pipeline has a combined value in excess of £100 million.

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