UK-listed SDCL Energy Efficiency Income Trust (SEEIT) is investing $31m (€26.3m) in a US renewable power facility.
SEEIT said the investment involves the acquisition of an operating renewable power facility in Reynolds in Indiana, and further investment in the expansion of the facility to enable the project to produce green gas.
SEEIT’s investment will be in the form of senior and subordinated debt, the company said. The project is owned by Bio Town Biogas and First Farmers Bank & Trust and Opal Fuels will be co-lenders in the transaction.
The anaerobic digestion facility has been operating since 2012. SEEIT said a portion of the investment will go towards increasing the capacity of the existing facility as well as installing a commercially proven gas upgrading facility to enable the project to inject green gas into the gas grid.
Jonathan Maxwell, CEO of SDCL’s investment manager Sustainable Development Capital, said: “We are very pleased to have added a green gas production facility in the US to our portfolio.
“This is a market that we have been watching closely for some time and this acquisition will further diversify SEEIT’s portfolio by technology, counterparty, and project stage; as well as supporting SEEIT’s dividend policy.”
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