StockMarketWire: SDCL Increased its Holding in Primary Energy to 65%

Industrial/ 04 January 2021

SDCL Energy Efficiency Income Trust said it had acquired an additional 15% interest in Primary Energy, from a consortium led by Fortistar LLC for approximately $36 million, taking its total holding to 65%. SDCL Energy Efficiency Income Trust, or SEEIT, initially acquired a 50% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, in February 2020. The portfolio projects ‘involve two of the most efficient and advanced steel mills in the United States,’ the company said. ‘Four of the five projects relate to steel mills that are now owned by Cleveland-Cliffs following its acquisition of ArcelorMittal USA, making Cleveland-Cliffs the largest flat-rolled steel producer as well as the largest iron ore pellet producer in North America,’ it added.

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