£72m raised by energy efficiency fund to finance project acquisitions

The company floated recently (December 2018), raising £100m, and the latest injection of equity will allow it to push forward with some of the acquisition opportunities it is currently in advanced negotiations for.

SEIT acquired its seed portfolio later shortly after its IPO for £87m. Examples of the projects in the seed portfolio include Combined Cooling/Heating (CHP) and Power Plants at a Citi data centre and St Bartholomew’s Hospital in London, as well as LED lighting projects for hundreds of Santander properties and over 100 NCP car parks in the UK.

Following this, SEIT announced its first investment in the United States comprising a 71% interest in a portfolio of eight operating CHP projects for $5m.

Chairman Tony Roper explains that the firm will use the cash injection to gain new projects.

“We are delighted with the support shown by both existing and new investors in this fundraise. The proceeds raised will enable us to fund specific acquisition opportunities under advanced negotiation, to diversify and expand the existing portfolio and reflects SEEIT’s strong momentum since its IPO in December,” he said.