Triple Point Energy Transition PLC - London-based trust focused on investments in infrastructure projects supporting the green energy transition - Says it is in active discussions about a payment plan with P3P Partners LLP regarding a deferred consideration for the sale of Triple Point’s CHP portfolio. The portfolio comprises loans to Harvest, Glasshouse and Spark Steam, through a refinancing by P3P Partners amounting to £17.5 million in total. The disposal involved an immediate payment of £14.5 million received in June, together with three subsequent payments of £1.0 million due to be received in September 2024, June 2025 and September 2026 under a promissory note agreement. However, the first instalment of £1 million on September 30 was only ‘partially paid’. The company says it has ‘reserved all its rights under the promissory note agreement’. It will provide an update once discussions have concluded.

Current stock price: 45.53 pence, closed 3.1% lower in London on Friday afternoon

12-month change: down 21%

Copyright 2024 Alliance News Ltd. All Rights Reserved.