Exclusivity to acquire portfolio of hydro projects

RNS Number : 2703N

Triple Point Energy Efficiency

29 September 2021

 

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL.

29 September 2021

Triple Point Energy Efficiency Infrastructure Company plc

("TEEC" or, together with its subsidiaries, the "Group")

EXCLUSIVITY TO ACQUIRE A PORTFOLIO OF HYDROELECTRIC POWER PROJECTS

The Group has secured exclusivity to acquire a portfolio of operational, Feed in Tariff ("FiT") accredited, hydroelectric power projects in Scotland. This investment was identified in the IPO prospectus and formed part of the original pipeline.

The transaction is expected to reach financial close during Q4 2021. This opportunity will enable TEEC to deploy a large portion of its remaining investable funds by acquiring an operational portfolio backed by long-term, inflation-linked FiT revenues, whilst generating 100% renewable energy.

For further information, please contact:

Triple Point Investment Management LLP (Investment Manager) Jonathan Parr	(via FTI below)
Akur Limited (Financial Adviser) Tom Frost Anthony Richardson Siobhan Sergeant	020 7493 3631
RBC Capital Markets (Joint Broker) Matthew Coakes Jill Li Kathryn Deegan	020 7653 4000
Winterflood Securities (Joint broker) Neil Langford Hande Derinkok	020 3100 0000
FTI Consulting Ed Berry Mitch Barltrop	07703 330 199 07807 296 032

LEI: 213800UDP142E67X9X28

Further information on the Company can be found on its website: www.tpenergyefficiency.com .

NOTES:

TEEC is a recently incorporated investment trust which invests exclusively in a diversified portfolio of Energy Efficiency assets in the UK, which have a positive environmental impact. TEEC's investments will focus on the core sectors of low carbon heat distribution; social housing retrofit and industrial energy efficiency; and distributed energy generation.

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 generation projects. In 2018, Triple Point was appointed as the Delivery Partner to BEIS, a department of the UK government, to deliver the £320 million Heat Networks Investment Project ("HNIP").

TEEC 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.

 

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