IPE Real Assets: SDCL Energy plans £80m fundraise via share placing to fund deals

General/ 13 October 2020


SDCL Energy Efficiency Income Trust is planning to raise £80m (€87.2m) by issuing new shares at 105p each.

The London-listed energy efficiency investor said the new capital will be used to fund further investments and new acquisitions.

The proposed fundraise is in line with the firm’s existing share issuance programme, the company said.

Tony Roper, chairman of SDCL Energy Efficiency Income Trust, said: “This proposed capital raise builds on the strong momentum SEEIT has achieved over the last two years. Energy efficiency is critically important in global efforts to address the climate emergency and has become an increasing focus for investors.

“The proceeds of this placing will allow SEEIT to continue to invest in this important and growing market whilst also delivering additional scale and diversification to shareholders.”

Jonathan Maxwell, CEO of SDCL’s investment manager Sustainable Development Capital, said: “The capital raised from this additional placing will be deployed to fund further investments and new acquisitions as we continue to grow SEEIT’s portfolio and deliver cheaper, cleaner and more reliable energy solutions.

”We currently have a wide pipeline of investment opportunities, several of which are either under exclusivity or at an advanced stage of negotiation and due diligence, that will diversify SEEIT’s portfolio in terms of technology, geography and counterparty and continue to deliver returns to shareholders in line with the company’s objectives.”