N+1 Singer: SDCL Energy Efficiency Income Trust (SEIT) – AcquisitionGeneral/ 19 October 2020
Equity investment of c. £100m for a 100% interest in the ultimate owner of the established, operational and regulated gas distribution network for Stockholm, Sweden. The majority of the gas is sourced from locally produced biogas (c.70%) and supplies and distributes to over 58,000 residential, commercial, industrial, transportation and real estate customers in Stockholm. The Company intends to work towards increasing the proportion of green gas in the network to 100% over time. The revenues are primarily regulated and predominantly based on fixed tariffs with relatively low sensitivity to customer demand or consumption, with the manager believing that there are opportunities for growth.