REG - Triple Point Energy - Full Repayment of Innova Development Debt Facility

Triple Point Energy TransitionAnnouncement

27/03/2024 07:00

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RNS Number : 4199I  Triple Point Energy Transition PLC  27 March 2024

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   +44 (0) 20 7201 8989

 Jonathan Hick

 Christophe Arnoult

 Chloé Smith

 J.P. Morgan Cazenove (Corporate Broker)  +44 (0) 20 3493 8000

 William Simmonds

 Jérémie Birnbaum

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

 Tom Frost

 Siobhan Sergeant

 Buchanan (Financial PR)                  +44 (0) 20 7466 5111

 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 (http://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.

 

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