IJ Global: SDCL to Raise £100mGeneral/ 04 February 2021
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.