ThomasLloyd Energy Impact proposes investment policy change

Proceeds with RUMS project construction

Valeria Martinez
clock • 2 min read

The ThomasLloyd Energy Impact (TLEI) trust has concluded that proceeding with the construction of the RUMS project may now be the “less value destructive” option for shareholders, resulting in a proposed investment policy change.

In a regulatory notice today (11 October), the TLEI board said aborting the project would crystallise an immediate write off of $8.9m of costs incurred and result in the encashment of $1.2m of performance bank guarantees.  This option would also potentially indirectly expose SolarArise, a Delhi-based renewable energy platform owned by ThomasLloyd, to abandonment penalties of up to $32.2m and likely protracted associated litigation.  ThomasLloyd Energy Impact shares temporarily suspended over fair value 'uncertainty' Having taken advice and explored the various possible outcomes of ...

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