SDCL Energy Efficiency Income Trust has raised £105m (€114m) via a share placing, an amount which exceeds the company’s initial fundraising target by 31%.

Earlier this weeks, the London-listed energy efficiency investor proposed a share placing to raise £80m, a fundraising plan it said was in line with the firm’s existing share issuance programme.

SDCL said the placing has received a strong level of support from investors and has been significantly oversubscribed.

The company said, taking into account the company’s acquisition pipeline, the board has decided to increase the size of the placing from £80m to £105m.

Tony Roper, chairman of SDCL Energy Efficiency Income Trust said: “The new funds will allow SDCL to continue to invest in energy efficiency projects that are essential for reducing carbon emissions while delivering stable and attractive returns for our investors, as we further expand and diversify our portfolio.”

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