Archive for the ‘General’ Category

BusinessWire: Stonepeak Infrastructure Partners and Ironclad Energy Partners Announce Sale of Rochester District Energy Assets to SEEIT for $260M Enterprise Value

Posted on: April 6th, 2021 by Dusted Design

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ModernPowerSystems: SEEIT Acquires District Energy System in USA

Posted on: April 6th, 2021 by Dusted Design

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Numis: SDCL Energy Efficiency Income – Acquiring RED Rochester for $177M

Posted on: April 6th, 2021 by Dusted Design

Acquisition of 100% equity interest in commercial district energy system, RED-Rochester from Stonepeak Infrastructure Partners for $177m.
RED has 117MW steam turbine generators plus boilers, chillers and other equipment providing 16 on-site services to commercial customers in Eastman Business Park in Rochester, NY.

Liberum: SEEIT – Increased US Weighting Following $177M Acquisition

Posted on: April 6th, 2021 by Dusted Design

Mkt Cap £765m | Prem/(disc) 13.9% | Div yield 4.9%

Event

SDCL Energy Efficiency Income Trust has acquired a 100% equity interest in a commercial district energy system, RED-Rochester, for $177m. RED is one of North America’s largest district energy systems with 117 MW of steam turbine generators plus boilers, chillers and other equipment that provide exclusive utility services to commercial and industrial customers within the 1,200 acre Eastman Business Park, located in Rochester, New York.

RED offers 16 on-site services including electricity, steam, chilled water, wastewater, compressed air, nitrogen, lake water treatment, industrial water distribution and high purity water distribution. The park has a highly diversified group of businesses including manufacturing, chemicals, pharmaceutical and food and beverages.  RED has over 100 commercial and industrial customers, typically contracted on a 20-year fixed-term basis. Two-thirds of the value of the offtake contracts are from investment grade counterparties. Over 40 energy efficiency projects have been delivered since 2016 and the manager has identified further potential investments in this area.

The acquisition will be funded from cash and the revolving credit facility. There is also $83m of project debt within RED.

Liberum view

RED-Rochster has been acquired from an affiliate of Stonepeak Infrastructure Partners. Stonepeak acquired the asset in 2016 and invested approximately $80m in energy efficiency projects, including the conversion of RED’s coal-fired central plant to modern natural gas boilers.

Recent investments have shifted SEIT’s portfolio weighting in North America to over 50%. Today’s investments follows the recent $120m investment in a portfolio of on-site solar and energy storage projects in the US, together with a 50% interest in Onyx Renewable Partners.

Agreement Signed with Chargemaster Limited

Posted on: March 30th, 2021 by Ghazaleh.Ghodrati

SEEIT is pleased to announce that it has signed an agreement with , the UK’s largest operator of public electric vehicle charging points.

The agreement represents a significant step forward in the roll out of national EV charging infrastructure, expected to result in the development and construction by The EV Network of a significant number of rapid and ‘ultra-fast’ EV charging locations.

Development and construction is expected to start immediately, with the first sites targeted to be operational by mid to end of 2021.

This national EV station roll out for bp pulse will include state of the art ‘hubs’ of between six to twelve chargers, as well as the next generation of ‘e-forecourts’ with up to 24 ultra-fast charge points (300KW) with on-site solar PV and battery storage systems. The e-forecourts will have both retail and convenience facilities for the drivers while they are waiting for their cars to be charged.

EVN plans to develop a further c.400 EV charging sites, and SEEIT has the right of first refusal to  provide an additional c.£150 million in the next 24-36 months.

Commenting on the investment, Jonathan Maxwell, CEO of SDCL, said: “Electric vehicle sales in the UK are at an inflection point, making the immediate scaling up of high quality, rapid and widely available EV charging infrastructure of critical importance. This investment, in partnership with the Electric Vehicle Network, is a significant commitment to EV charging infrastructure in the UK and we look forward to supporting and enabling the market for sustainable and low carbon transport, helping to reduce pollution and greenhouse gas emissions.”

Link to RNS

Alliance News: TRADING UPDATES – SDCL Energy Inks Agreement with Chargemaster

Posted on: March 29th, 2021 by Dusted Design

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IJ Global: SEEIT Signs BP Pulse Agreement Framework

Posted on: March 29th, 2021 by Dusted Design

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Zap Map: BP Pulse and the EV Network to Roll Out UK Charging Forecourts

Posted on: March 29th, 2021 by Dusted Design

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The Energyst: SEEIT Agreement with BP Pulse

Posted on: March 29th, 2021 by Dusted Design

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