Dalmore Capital, an independent fund management company that invests in long-term infrastructure assets on behalf of institutional investors, has acquired the entire share capital of Triple Point Energy Transition Holdings Limited for £44.1 million. This primarily includes nine run of river hydro sites located in Scotland, totalling 6.6MW in capacity.
The portfolio provides base load renewable generation, which is key to delivering a net zero electricity mix and balancing other forms of intermittent supply. It is highly cash generative with revenues backed by long term Feed-in-Tariff subsidies benefiting from RPI indexation. The portfolio offers an attractive risk adjusted return, high inflation correlation and strong downside protection.
This follows Dalmore acquiring a further stake in Agility Trains West in 2024, a concession contract established to manufacture, finance and maintain 57 Hitachi Class 800 bi-mode trains for operation by Great Western Railway. Dalmore’s recent investment activity is underpinned by a broader c.£1bn pipeline of future investment opportunities.
Alistair Ray, CIO of Dalmore Capital, said, “We are pleased to have acquired this hydro portfolio, offering our investors access to high-yielding and low-risk renewable generation assets that play an important part in the UK’s transition to net zero. It further diversifies our portfolio and supports our investment focus on long-term, low volatility infrastructure projects that deliver socio-economic and environmental benefits.”
