27 March 2024
Triple
Point Energy Transition plc
("TENT", the "Company" or
together with its subsidiaries, the "Group")
Full Repayment of £5 million
Innova Development Debt Facility
Triple
Point Energy Transition plc (LSE: TENT)
is pleased to announce
that the outstanding loan under its £5 million development debt
facility (the "Facility")
with Innova Renewables Limited ("Innova"), has been fully repaid on
schedule.
Background
Innova, which is part of the wider
Innova Group, is one of the UK's leading solar and battery energy
storage system ("BESS")
developers and operators. On 31 March 2023, the Company's wholly
owned subsidiary, TENT Holdings Limited, agreed a solar PV
development fixed rate finance facility of 12 months with Innova,
which was used to develop ground-mounted solar and BESS assets
across the UK.
John Roberts, the Company's Chair
commented:
"We are pleased to confirm this
successful full repayment which marks a milestone in our orderly
realisation process, with the Group's portfolio now consisting of
19 investments."
For further information, please
contact:
|
Triple Point Investment Management LLP
Jonathan Hick
Christophe Arnoult
Chloé
Smith
|
+44
(0) 20 7201 8989
|
|
J.P. Morgan Cazenove (Corporate Broker)
William Simmonds
Jérémie Birnbaum
|
+44
(0) 20 3493 8000
|
|
Akur Limited (Financial Adviser)
Tom Frost
Siobhan Sergeant
|
+44
(0) 20 7493 3631
|
|
Buchanan (Financial PR)
Helen Tarbet
Henry Wilson
Verity Parker
Sam Adams
|
|
+44
(0) 20 7466 5111
|
LEI: 213800UDP142E67X9X28
Further information on the Company
can be found on its website: www.tpenergytransition.com
NOTES:
The Company is an investment trust
which was established to invest in
assets that support the transition to a lower carbon, more
efficient energy system and help the UK achieve Net
Zero.
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 transition and
decentralised energy projects.
On 22 March 2024, shareholders
approved the Company's proposed orderly realisation of
assets. Details of future divestments or
returns of capital are expected to be announced via a Regulatory
Information Service in due course.