SDCL Energy Efficiency Investments (LSE:SEIT) Trust plc (SEEIT) said it has invested US$21mln in an operational portfolio of LED lighting projects across 42 US states.
The investment also gives the fund a 50% interest in Future Energy Solutions Lighting Holdings LLLP (FES), the business that developed the projects.
SEEIT, which has made previous investments in LED lighting in the UK and US, has also been granted a right of first refusal to fund a £150mln plus pipeline of European projects with an affiliate of FES.
FES provides energy efficient lighting solutions to businesses across the US for fixed monthly payments, with an operational portfolio of over 1,000 customers from a variety of sectors, including schools, hotels, and retail shops.