16th Nov 2022 17:29
(Alliance News) - ThomasLloyd Energy Impact Trust PLC announced on Wednesday it raised USD35.3 million to go towards its pipeline of possible acquisitions.
It raised the funds through a placing of 34.3 million shares at USD1.03 each.
The London-based renewable energy investment trust said the net proceeds of the placing will be used to acquire and construct new projects in pipeline.
ThomasLloyd has a near-term pipeline of potential investments totalling over USD750 million, including USD380 million of exclusive acquisition and organic follow-on opportunities, with the remainder being used for new acquisition opportunities in various stages of due diligence.
"At a time when world leaders, policymakers and delegates from nearly 200 countries at COP27 are urging immediate action to the climate crisis, the success of this institutional placing has demonstrated that our existing and new investors understand the compelling case to increase the flow of capital to climate-related energy infrastructure projects in developing countries across Asia," said Michael Sieg, chief executive of the firm's investment manager.
Shares in ThomasLloyd rose by 5.9% to 94.00 pence in London on Wednesday afternoon.
By Greg Rosenvinge; [email protected]
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