Investment: “Acquisition of an additional 15% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA for an equity cash consideration of approximately $36 million. SEEIT acquired an initial 50% interest in Primary Energy in February 2020. Following this acquisition, SEEIT’s interest in Primary Energy is now 65%. “

Primary Energy: “The 298MW [Primary Energy] portfolio consists of five operating projects which generate low-cost, efficient energy with substantial environmental benefits via three recycled energy projects, one natural gas combined heat and power project and a 50% interest in an industrial process efficiency project.”

SDCL Energy Efficiency Income (SEIT) announced the acquisition of an additional 15% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, from a consortium led by Fortistar LLC for a cash consideration of approximately $36m. SEIT acquired an initial 50% interest in Primary Energy in February 2020. Following this acquisition, SEIT’s interest in Primary Energy is now 65%. SEIT has also agreed terms under which it could increase its stake and further enhance returns for shareholders. The 298MW portfolio consists of five operating projects which generate low-cost, efficient energy with substantial environmental benefits via three recycled energy projects, one natural gas combined heat and power project and a 50% interest in an industrial process efficiency project.

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SDCL Energy Efficiency Income Trust said it had acquired an additional 15% interest in Primary Energy, from a consortium led by Fortistar LLC for approximately $36 million, taking its total holding to 65%. SDCL Energy Efficiency Income Trust, or SEEIT, initially acquired a 50% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, in February 2020. The portfolio projects ‘involve two of the most efficient and advanced steel mills in the United States,’ the company said. ‘Four of the five projects relate to steel mills that are now owned by Cleveland-Cliffs following its acquisition of ArcelorMittal USA, making Cleveland-Cliffs the largest flat-rolled steel producer as well as the largest iron ore pellet producer in North America,’ it added.

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SDCL Energy Efficiency Income Trust PLC – investor in energy efficiency sector – Buys further 15% stake in Primary Energy from a consortium led by privately-owned investment firm Fortistar LLC for USD36 million. Primary Energy is a 298 megawatt portfolio of recycled energy and co-generation projects in the US state of Indiana. In addition to the initial 50% interest purchased in February 2020, SDCL now holds a 65% stake.

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