Proactive Investors - Run By Investors For Investors

SDCL Energy Efficiency Income Trust inks deals with Tesco for portfolio of rooftop solar projects

The trust said Tesco will enter a power purchase agreement for each individual site, with SDCL to be responsible for installing, operating, and maintaining each project
Solar panels
SDCL said the initial batch of projects will be around 1 megawatt and are the first phase of approximately 5 megawatts programme

SDCL Energy Efficiency Income Trust PLC (LON:SEIT) has signed an agreement with supermarkets giant Tesco PLC (LON:TSCO) for a portfolio of rooftop solar projects.

The energy efficiency sector investor said Tesco will enter a power purchase agreement for each individual site, with SDCL to be responsible for installing, operating, and maintaining each project.

READ: SDCL has first mover advantage as energy efficiency becomes mainstream

The trust said the initial batch of projects will be around 1 megawatt and are the first phase of approximately 5 megawatts programme, with additional solar projects are planned under a framework agreement.

It has partnered with Kingspan Energy Ltd, which will be the engineering, operating, and construction contractor under the deal.

SDCL’s chief executive Jonathan Maxwell commented: "We are continuing to deliver on the pipeline opportunities identified at the time of our initial public offering and are pleased to announce our first investment in rooftop solar [photovoltaics].”

He added: “With all the revenues being generated from the [power purchase agreements] and costs being largely fixed, this is a positive, stable investment for [SDCL] and one we are delighted to add to our growing portfolio.”

In afternoon trading, SDCL shares held steady at 105.50p.

View full SEIT profile View Profile

SDCL Energy Efficiency Investments Timeline

Related Articles

Gas plant
April 29 2019
“2018 was a tough year for the company but we ended the year on a high."
Drilling rig
July 08 2019
The company is focused on a buy-low, sell-high land and leasing model in the SCOOP and STACK plays of Oklahoma’s Anadarko Basin.
Gas flare
May 22 2019
The group is in the middle of a three well programme to explore the A1 prospect, close to the original Tendrara discovery

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use