Triple Point Energy Transition PLC Full Repayment of Innova Development Debt Facility

RNS Number : 4199I

Triple Point Energy Transition PLC

27 March 2024

 

27 March 2024

Triple Point Energy Transition plc

("TENT", the "Company" or together with its subsidiaries, the "Group")

Full Repayment of £5 million Innova Development Debt Facility

Triple Point Energy Transition plc (LSE: TENT) is pleased to announce that the outstanding loan under its £5 million development debt facility (the "Facility") with Innova Renewables Limited ("Innova"), has been fully repaid on schedule.

Background

Innova, which is part of the wider Innova Group, is one of the UK's leading solar and battery energy storage system ("BESS") developers and operators. On 31 March 2023, the Company's wholly owned subsidiary, TENT Holdings Limited, agreed a solar PV development fixed rate finance facility of 12 months with Innova, which was used to develop ground-mounted solar and BESS assets across the UK.

John Roberts, the Company's Chair commented:

"We are pleased to confirm this successful full repayment which marks a milestone in our orderly realisation process, with the Group's portfolio now consisting of 19 investments."

For further information, please contact:

Triple Point Investment Management LLP Jonathan Hick Christophe Arnoult Chloé Smith	[phone]
J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum	[phone]
Akur Limited (Financial Adviser) Tom Frost Siobhan Sergeant	[phone]
Buchanan (Financial PR) Helen Tarbet Henry Wilson Verity Parker Sam Adams	[phone]

LEI: 213800UDP142E67X9X28

 

Further information on the Company can be found on its website: www.tpenergytransition.com

NOTES:

The Company is an investment trust which was established to invest in assets that support the transition to a lower carbon, more efficient energy system and help the UK achieve Net Zero. 

The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority. Triple Point manages private, institutional, and public capital, and has a proven track record of investment in energy transition and decentralised energy projects.

On 22 March 2024, shareholders approved the Company's proposed orderly realisation of assets. Details of future divestments or returns of capital are expected to be announced via a Regulatory Information Service in due course.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

UPDEAFDKADDLEAA