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
| +44 (0) 20 7201 8989 | |
| J.P. Morgan Cazenove (Corporate Broker) William Simmonds Jérémie Birnbaum
| +44 (0) 20 3493 8000 | |
| Akur Limited (Financial Adviser) Tom Frost Siobhan Sergeant
| +44 (0) 20 7493 3631 | |
| +44 (0) 20 7466 5111 |
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.
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