SDCL Energy Efficiency Income Tst Power production begins at Tesco UK solar projects (9074T)
19 Novembre 2019 - 11:45AM
UK Regulatory
TIDMSEIT
RNS Number : 9074T
SDCL Energy Efficiency Income Tst
19 November 2019
19 November 2019
SDCL Energy Efficiency Income Trust plc
("SEEIT" or the "Company")
Power production begins at Tesco UK solar projects
SEEIT is pleased to announce the completion of its first two
rooftop solar photovoltaic system installations under the
previously announced framework agreement with Tesco plc ("Tesco").
The projects at Tesco Huntingdon and Tesco Lewes recently achieved
first power generation and are now generating revenues for SEEIT
under individual Power Purchase Agreements. Further sites are in
the process of being completed as part of the first phase of c.5
megawatts of solar projects under the framework agreement.
SEEIT has partnered with Kingspan Energy Limited ("Kingspan") to
provide a complete design, build, finance, operate and maintenance
solution for Tesco, with Kingspan being the project Engineering,
Operation and Construction contractor as well as the Operation and
Maintenance contractor.
Commenting on the project, Jonathan Maxwell, CEO of SDCL,
said:
"We are delighted that the first two projects are now generating
power. Having only entered into the agreement in June, to have
begun generating power and revenue within six months is a real
achievement. We are excited about continuing to work with Tesco and
Kingspan as further sites are completed as part of the framework
agreement."
Marci Bonham, Managing Director of Kingspan Energy Ltd,
added:
"As the country looks to accelerate the change to a low-carbon
economy, it is vital that big businesses lead the way. It is great
to see Tesco take such positive action, and we are thrilled to work
alongside SEEIT on this ambitious, large-scale project, supporting
them with our energy solutions and expertise. We look forward to
seeing continued positive results from this partnership."
For Further Information
Sustainable Development Capital T: +44 (0) 20 7287 7700
LLP
Jonathan Maxwell
Miles Alexander
Keith Driver
Jefferies International Limited T: +44 (0) 20 7029 8000
Gary Gould
Tom Hovanessian
TB Cardew T: +44 (0) 20 7930 0777
Ed Orlebar M: +44 (0) 7738 724 630
Joe McGregor E: SEEIT@tbcardew.com
About SEEIT
SDCL Energy Efficiency Income Trust plc (the "Company") is the
first listed company of its kind to invest exclusively in the
energy efficiency sector. Examples of the projects in the portfolio
include combined cooling/heating and power plants, as well as
energy efficiency projects in the UK and the US. Since IPO, the
Company has invested in a diversified portfolio of energy
efficiency assets, including the seed portfolio, a portfolio of
rooftop solar PV projects for Tesco (UK), a portfolio of
cogeneration assets (USA), a portfolio of energy efficiency loans
(USA) and a portfolio of cogeneration assets (Spain).
The Company aims to deliver shareholders value through its
investment in a diversified portfolio of energy efficiency projects
which are driven by the opportunity to deliver lower cost, cleaner
and more reliable energy solutions to end users of energy.
The Company is targeting an attractive total return for
shareholders of 7-8 per cent. per annum (net of fees and expenses
and by reference to the initial issue price of GBP1.00 per Ordinary
Share), with a stable dividend income, capital preservation and the
opportunity for capital growth.
Further information can be found on the Company's website at
www.sdcleeit.com.
Investment Manager
SEEIT's investment manager is Sustainable Development Capital
LLP ("SDCL"), an investment firm established in 2007, with a proven
track record of investment in energy efficiency and decentralised
generation projects in the UK, Continental Europe, North America
and Asia.
SDCL is headquartered in London and the group also operates
worldwide from offices in New York, Dublin and Singapore. SDCL is
authorised and regulated in the UK by the Financial Conduct
Authority.
.
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END
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