TIDMTENT
Triple Point Energy Transition PLC
08 November 2022
8 November 2022
Triple Point Energy Transition plc
(the "Company" or, together with its subsidiaries, the
"Group")
Investment to fund installation of energy efficient lighting
The Board of Directors of Triple Point Energy Transition plc
(ticker: TENT) is pleased to announce that the Group has completed
the funding of its first energy efficient lighting opportunity.
TENT has provided funding of GBP1 million to a lighting solutions
provider, which has installed efficient lighting and controls at a
large retail logistics specialist.
Energy efficient lighting equipment and the optimisation of
lighting management through efficient controls are important and
relatively straight forward actions to save money and to reduce the
carbon footprint of buildings. Companies can enhance their estates
and day-to-day operations through improving their lighting which
creates the ability to tailor the lighting solution to the right
levels of illumination, reduce carbon wastage and save money.
The transaction is structured as a Lighting As A Service
("LAAS") arrangement, with TENT receiving a contractual income from
the logistics specialist over a five year period. The logistics
company is part of a broader group with an investment grade credit
rating.
John Roberts, TENT's Chair, said:
"The installation and operation of tailored, energy efficient
lighting equipment is a long-term positive improvement for a
business' operations, staff and customers. This investment is the
first that TENT has made in the lighting sector, bringing further
technological diversification to our portfolio. TENT and the
logistics company have identified specific opportunities to work
together on further LAAS arrangements over the coming year."
For further information, please contact:
Triple Point Investment Management LLP
Jonathan Hick
Ben Beaton +44 (0) 20 7201 8989
J.P. Morgan Cazenove (Corporate Broker)
William Simmonds
Jérémie Birnbaum +44 (0) 20 7742 4000
Akur Limited (Financial Adviser)
Tom Frost
Anthony Richardson
Siobhan Sergeant +44 (0) 20 7493 3631
LEI: 213800UDP142E67X9X28
Further information on the Company can be found on its website:
www.tpenergytransition.com
NOTES:
The Company is an investment trust which aims to have a positive
environmental impact by investing in assets that support the
transition to a lower carbon, more efficient energy system and help
the UK achieve Net Zero.
Since its IPO in October 2020, the Company has made the
following investments and commitments:
-- Harvest and Glasshouse : provision of GBP21m of senior debt
finance to two established combined heat and power ("CHP") assets,
located on the Isle of Wight, supplying heat, electricity and
carbon dioxide to the UK's largest tomato grower, APS Salads
("APS") - March 2021
-- Spark Steam : provision of GBP8m of senior debt finance to an
established CHP asset in Teesside supplying APS, as well as a
further power purchase agreement through a private wire arrangement
with another food manufacturer - June 2021
-- Hydroelectric Portfolio (1) : acquisition of six operational,
Feed in Tariff ("FiT") accredited, "run of the river" hydroelectric
power projects in Scotland, with total installed capacity of 4.1MW,
for an aggregate consideration of GBP26.6m (excluding costs) -
November 2021
-- Hydroelectric Portfolio (2) : acquisition of a further three
operational, FiT accredited, "run of the river" hydroelectric power
projects in Scotland, with total installed capacity of 2.5MW, for
an aggregate consideration of GBP19.6m (excluding costs) - December
2021
-- BESS Portfolio : commitment to provide a debt facility of
GBP45.6m to a subsidiary of Virmati Energy Ltd (trading as
"Field"), for the purposes of building a portfolio of four
geographically diverse Battery Energy Storage System ("BESS")
assets in the UK with a total capacity of 110MW - March 2022
-- Energy Efficient Lighting: Funding of GBP1m to a lighting
solutions provider to install efficient lighting and controls at a
leading logistics company - November 2022
The Investment Manager is Triple Point Investment Management LLP
("Triple Point") which is authorised and regulated by the Financial
Conduct Authority. Triple Point manages private, institutional, and
public capital, and has a proven track record of investment in
Energy Efficiency and decentralised energy projects.
The Company was admitted to trading on the Specialist Fund
Segment of the Main Market of the London Stock Exchange on 19
October 2020 and was awarded the London Stock Exchange's Green
Economy Mark. It was admitted to the premium listing segment of the
Official List of the Financial Conduct Authority and migrated to
trading on the premium segment of the Main Market on 28 October
2022.
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