RCS - Triple Point Energy - Investment to fund energy efficient lighting

Triple Point Energy TransitionAnnouncement

08/11/2022 07:00

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RNS Number : 5263F  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 £1
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   +44 (0) 20 7201 8989

 Jonathan Hick

 Ben Beaton

 J.P. Morgan Cazenove (Corporate Broker)  +44 (0) 20 7742 4000

 William Simmonds

 Jérémie Birnbaum

 Akur Limited (Financial Adviser)         +44 (0) 20 7493 3631

 Tom Frost

 Anthony Richardson

 Siobhan Sergeant

LEI: 213800UDP142E67X9X28

 

Further information on the Company can be found on its website:
www.tpenergytransition.com (http://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 £21m 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 £8m 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 £26.6m (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 £19.6m (excluding costs) - December 2021

·    BESS Portfolio: commitment to provide a debt facility of £45.6m 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 £1m 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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