SDCL Energy Efficiency Income Trust has exceeded its £100m (€114m) fundraising target by 60%.

The London-listed investment firm, which announced a share placing last week, said it decided to increase the size of the placing to £160m after receiving a “strong level of support from investors.”

Tony Roper, Chairman of SDCL Energy Efficiency Income Trust, said: “We are grateful for the strong support we have once again received from both new and existing investors in this over-subscribed placing.”

Roper said the company has a strong pipeline of both organic investments and new acquisition opportunities, which in total exceeds £200m.

He said the company also intends to repay the existing debt facilities of £65m, adding that debt facilities can be drawn in the future to make new investments.

He added: “We continue to focus on ensuring that we create value and deliver stable returns for our shareholders through the expansion, improvement and diversification of our portfolio.”

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