QuotedData: QuotedData’s Morning Briefing 4 January 2021Industrial/ 04 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 February 2020. Following this acquisition, SEIT’s interest in Primary Energy is now 65%. SEIT has also agreed terms under which it could increase its stake and further enhance returns for shareholders. The 298MW portfolio consists of five operating projects which generate low-cost, efficient energy with substantial environmental benefits via three recycled energy projects, one natural gas combined heat and power project and a 50% interest in an industrial process efficiency project.