Specialist energy efficiency fund buys £87m of projects, eyes more


The SDCL Energy Efficiency Income Trust (SEEIT) has used most of the money it raised by floating last week to buy a portfolio of energy projects including CCHP and LED lighting for £87m.

It now plans to buy other projects including a UK retailer’s rooftop PV portfolio via a combination of equity and debt finance, as well as CHP assets in Europe and North America. SEEIT said it has commenced due diligence on those targets and hopes to complete early in 2019.

The fund, operated by Sustainable Development Capital Limited, hopes to deliver a total return of 7-8 per cent per annum and an initial dividend yield of 5 per cent on the Initial Issue Price (100p), rising to 5.5 per cent in the year ending 31 March 2021 and a growing yield thereafter.

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