TIDMTLEI TIDMTLEP
RNS Number : 7432M
ThomasLloyd Energy Impact Trust PLC
16 January 2023
LEI: 254900V23329JCBR9G82
16 January 2023
ThomasLloyd Energy Impact Trust plc
Completion of final SolarArise acquisition
Further to its announcement on 21 June 2022, ThomasLloyd Energy
Impact Trust plc (the "Company"), the renewable energy investment
trust providing direct access to sustainable energy infrastructure
in fast-growing and emerging economies in Asia, is pleased to
announce that it has successfully completed the acquisition of the
remaining 57% economic interest in SolarArise India Projects
Private Limited ("SolarArise"), taking its total ownership to 100%.
The consideration of US$38.5 million was funded from existing cash
resources.
SolarArise is a Delhi based renewable energy platform which owns
seven solar power projects in India with capacity totalling 434 MW,
of which 234 MW is operational and 200 MW is construction-ready.
100% of SolarArise's operating revenues are generated under 25-year
fixed price government or quasi-government power purchase
agreements. The initial acquisition of 43% in SolarArise was
completed in August 2022.
Commenting on today's announcement Nandita Sahgal Tully, Head of
M&A and Project Finance at the Investment Manager, said:
"Completion of the acquisition of the remaining interest in
SolarArise marks an important milestone for ThomasLloyd Energy
Impact Trust. The investment portfolio now comprises nine operating
solar plants and one construction stage solar plant with a total
capacity of 514MW. We also anticipate the completion of the two
Vietnamese solar projects shortly, following the announcement of
their acquisition on 2 November 2022. Our strategy of investing in
renewable energy projects across a balanced portfolio of
construction-ready and operational assets in fast-growing economies
in Asia is a key differentiator in targeting long-term double-digit
financial returns and new, significant and ongoing impact."
Enquiries:
ThomasLloyd Group (Investment Manager)
Andreas Schmitzer (Investment Products & Tel: +41 44 213
Services) 6767
Nandita Sahgal-Tully (Infrastructure Investment
Team)
Shore Capital (Joint Corporate Broker) Tel: +44 (0)20
Robert Finlay / Rose Ramsden (Corporate) 7408 4050
Adam Gill / Matthew Kinkead / William Sanderson
(Sales)
Fiona Conroy (Corporate Broking)
Peel Hunt LLP (Joint Corporate Broker) Tel: +44 (0)20
Luke Simpson / Huw Jeremy (Investment Banking 7418 8900
Division)
Alex Howe / Richard Harris / Michael Bateman
/ Ed Welsby (Sales)
Camarco
Louise Dolan Tel: +44 (0)20
Eddie Livingstone-Learmonth 3757 4982
Phoebe Pugh
thomaslloyd@camarco.co.uk
About ThomasLloyd Energy Impact Trust plc
ThomasLloyd Energy Impact Trust plc ("TLEI" or "the Company")
listed on the premium segment of the main market of the London
Stock Exchange in December 2021 and was awarded the Green Economy
Mark upon admission.
In 2021, ThomasLloyd Group Ltd ("ThomasLloyd" or the
"ThomasLloyd Group") participated in the Mobilising Institutional
Capital Through Listed Product Structures (MOBILIST) competition,
which engaged financial institutions in a search for the best
sustainable infrastructure proposals that can list either on the
London Stock Exchange or local exchanges. ThomasLloyd Group was the
first fund manager to complete this process successfully and
received US$32.3 million in investment from the UK government into
the Company.
The Company has a 'Triple Return' investment objective which
consists of:
- providing shareholders with attractive dividend growth and
prospects for long-term capital appreciation (the financial
return);
- protecting natural resources and the environment (the environmental return); and
- delivering economic and social progress, helping build
resilient communities and supporting purposeful activity (the
social return).
The Company seeks to achieve its investment objective by
investing directly in a diversified portfolio of sustainable energy
infrastructure assets in the fast-growing and emerging economies in
Asia. The assets will be unlisted sustainable energy infrastructure
assets in the areas of renewable energy power generation,
transmission infrastructure, energy storage and sustainable fuel
production, including utilising different technologies to reduce
revenue variability.
The Company aims to generate additional value for its investors
through focusing its investments on construction-ready or
in-construction projects. The Company only invests in such
pre-operational assets where: (i) an offtake agreement has been
entered into; (ii) the land on which the project is situated is
identified or contractually secured where appropriate; and (iii)
all relevant permits have been granted.
Offtake agreements will typically benefit from long-term
fixed-price PPAs, capacity contracts or other similar revenue
contracts with creditworthy (primarily investment grade) private
and public sector buyers.
TLEI classifies under Article 9 of the EU Sustainable Finance
Disclosure Regulation (SFDR) as a financial product that has
sustainable investment as its objective. As a fund that invests in
renewable energy infrastructure, TLEI substantially contributes to
climate mitigation under the EU Green Taxonomy.
Further information on the Company can be found on its website (
www.tlenergyimpact.com ).
About the Investment Manager
The Company's investment manager is ThomasLloyd Global Asset
Management (Americas) LLC, a wholly-owned subsidiary of ThomasLloyd
Group. Founded in 2003, ThomasLloyd is a leading impact investor
and provider of climate financing. ThomasLloyd is a pure play
impact investor and aims to apply a robust, socially and
environmentally responsible investment approach that is geared
towards reducing carbon emissions and improving economic prospects,
while reducing investment risk through diversification across
countries, sectors and technologies.
Over the last decade, ThomasLloyd has deployed over US$1 billion
across 18 projects in renewable energy generation, transmission and
sustainable fuel production with a total capacity in excess of 700
MW.
Since 2013, ThomasLloyd has been measuring and reporting on the
impact of its investments, creating an empirical database showing
the positive impact of its investments in sustainable energy
infrastructure in high growth and emerging markets in Asia.
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