ThomasLloyd Energy ThomasLloyd - TLEI ThomasLloyd EngyTLEP - Completion of Final SolarArise Acquisition

Asian Energy Impact Trust

16/01/2023 07:00

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RNS Number : 7432M  ThomasLloyd Energy Impact Trust PLC  16 January 2023

LEI: 254900V23329JCBR9G82

16 January 2023

ThomasLloyd Energy Impact Trust plc

Completion of final SolarArise acquisition

Further to its announcement on 21 June 2022, ThomasLloyd Energy Impact Trust
plc (the "Company"), the renewable energy investment trust providing direct
access to sustainable energy infrastructure in fast-growing and emerging
economies in Asia, is pleased to announce that it has successfully completed
the acquisition of the remaining 57% economic interest in SolarArise India
Projects Private Limited ("SolarArise"), taking its total ownership to 100%.
The consideration of US$38.5 million was funded from existing cash resources.

SolarArise is a Delhi based renewable energy platform which owns seven solar
power projects in India with capacity totalling 434 MW, of which 234 MW is
operational and 200 MW is construction-ready. 100% of SolarArise's operating
revenues are generated under 25-year fixed price government or
quasi-government power purchase agreements.  The initial acquisition of 43%
in SolarArise was completed in August 2022.

Commenting on today's announcement Nandita Sahgal Tully, Head of M&A and
Project Finance at the Investment Manager, said:

"Completion of the acquisition of the remaining interest in SolarArise marks
an important milestone for ThomasLloyd Energy Impact Trust.  The investment
portfolio now comprises nine operating solar plants and one construction stage
solar plant with a total capacity of 514MW. We also anticipate the completion
of the two Vietnamese solar projects shortly, following the announcement of
their acquisition on 2 November 2022. Our strategy of investing in renewable
energy projects across a balanced portfolio of construction-ready and
operational assets in fast-growing economies in Asia is a key differentiator
in targeting long-term double-digit financial returns and new, significant and
ongoing impact."

Enquiries:

 ThomasLloyd Group (Investment Manager)

 Andreas Schmitzer (Investment Products & Services)                 Tel: +41 44 213 6767

 Nandita Sahgal-Tully (Infrastructure Investment Team)

 Shore Capital (Joint Corporate Broker)                             Tel: +44 (0)20 7408 4050

 Robert Finlay / Rose Ramsden (Corporate)

 Adam Gill / Matthew Kinkead / William Sanderson (Sales)

 Fiona Conroy (Corporate Broking)

 Peel Hunt LLP (Joint Corporate Broker)                             Tel: +44 (0)20 7418 8900

 Luke Simpson / Huw Jeremy (Investment Banking Division)

 Alex Howe / Richard Harris / Michael Bateman / Ed Welsby (Sales)
 Camarco

 Louise Dolan                                                       Tel: +44 (0)20 3757 4982

 Eddie Livingstone-Learmonth                                        thomaslloyd@camarco.co.uk (mailto:thomaslloyd@camarco.co.uk)

 Phoebe Pugh

 

About ThomasLloyd Energy Impact Trust plc

ThomasLloyd Energy Impact Trust plc ("TLEI" or "the Company") listed on the
premium segment of the main market of the London Stock Exchange in December
2021 and was awarded the Green Economy Mark upon admission.

In 2021, ThomasLloyd Group Ltd ("ThomasLloyd" or the "ThomasLloyd Group")
participated in the  Mobilising Institutional Capital Through Listed Product
Structures (MOBILIST) (https://www.ukmobilist.com/)  competition, which
engaged financial institutions in a search for the best sustainable
infrastructure proposals that can list either on the London Stock Exchange or
local exchanges. ThomasLloyd Group was the first fund manager to complete
this process successfully and received US$32.3 million in investment from
the UK government into the Company.

The Company has a 'Triple Return' investment objective which consists of:

-                  providing shareholders with attractive
dividend growth and prospects for long-term capital appreciation (the
financial return);

-                  protecting natural resources and the
environment (the environmental return); and

-                  delivering economic and social progress,
helping build resilient communities and supporting purposeful activity (the
social return).

The Company seeks to achieve its investment objective by investing directly in
a diversified portfolio of sustainable energy infrastructure assets in the
fast-growing and emerging economies in Asia. The assets will be unlisted
sustainable energy infrastructure assets in the areas of renewable energy
power generation, transmission infrastructure, energy storage and sustainable
fuel production, including utilising different technologies to reduce revenue
variability.

The Company aims to generate additional value for its investors through
focusing its investments on construction-ready or in-construction projects.
The Company only invests in such pre-operational assets where: (i) an offtake
agreement has been entered into; (ii) the land on which the project is
situated is identified or contractually secured where appropriate; and (iii)
all relevant permits have been granted.

Offtake agreements will typically benefit from long-term fixed-price PPAs,
capacity contracts or other similar revenue contracts with creditworthy
(primarily investment grade) private and public sector buyers.

TLEI classifies under Article 9 of the EU Sustainable Finance Disclosure
Regulation (SFDR) as a financial product that has sustainable investment as
its objective. As a fund that invests in renewable energy infrastructure, TLEI
substantially contributes to climate mitigation under the EU Green Taxonomy.

Further information on the Company can be found on its website
(www.tlenergyimpact.com (http://www.tlenergyimpact.com) ).

About the Investment Manager

The Company's investment manager is ThomasLloyd Global Asset Management
(Americas) LLC, a wholly-owned subsidiary of ThomasLloyd Group. Founded in
2003, ThomasLloyd is a leading impact investor and provider of climate
financing. ThomasLloyd is a pure play impact investor and aims to apply a
robust, socially and environmentally responsible investment approach that is
geared towards reducing carbon emissions and improving economic prospects,
while reducing investment risk through diversification across countries,
sectors and technologies.

 

Over the last decade, ThomasLloyd has deployed over US$1 billion across 18
projects in renewable energy generation, transmission and sustainable fuel
production with a total capacity in excess of 700 MW.

 

Since 2013, ThomasLloyd has been measuring and reporting on the impact of its
investments, creating an empirical database showing the positive impact of its
investments in sustainable energy infrastructure in high growth and emerging
markets in Asia.

 

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