SDCL Energy Efficiency trust looks to raise £175m

Market cap nears £1bn

Kathleen Gallagher
clock • 2 min read
SDCL believes opportunities in solar in US will appear in the coming months
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SDCL believes opportunities in solar in US will appear in the coming months

SDCL Energy Efficiency Income trust (SEIT) has announced its intention to raise an additional £175m with a retail friendly placing that would see its market capitalisation edge toward £1bn.

The money will be raised by the issuance of new ordinary shares through an open offer, placing, offer for subscription and intermediaries offer. They will be available at 110.5 pence per share, which represents a 7.8% premium to the company's NAV on 31 March, according to data from the Association of Investment Companies. The £701m trust said the funds will be used for "an extensive pipeline of investment opportunities with a value of over £600m". These opportunities include investment in solar and storage projects, on-site generation and energy efficiency and electric vehicle charging i...

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