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Triple Point seals investment in CHP+ assets
StockMarketWire.com
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Triple Point Energy Efficiency Infrastructure said it had completed investments in target CHP+ assets identified at its initial public offering.
The assets were held by Harvest Generation Services and Glasshouse Generation.
Triple Point had provided £21 million of senior debt finance secured against Harvest and Glasshouse, the underlying assets, equipment, and contracts.
The interest rate was 7.75% per annum, with each loan carrying a term of 10 years, amortising over 14 years, with the residual amount to be repaid at maturity.
Harvest and Glasshouse held operational, established energy centres located on the Isle of Wight, supplying heat, electricity and carbon dioxide to the UK's largest tomato grower.
The supply was pursuant to an energy services agreement, with a remaining term of around 15 years.
'We are pleased to have deployed these funds into Harvest and Glasshouse, two assets which deliver highly energy efficient services to a critically important UK domestic producer of essential food items,' Triple Point's Jonathan Parr said.
'We have a strong pipeline of investment opportunities and look forward to updating the market on the next investments to be made by TEEC in the short term.'
At 8:47am: (LON:TEEC) share price was 0p at 103p
Story provided by StockMarketWire.com
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