ThomasLloyd Energy Impact Trust (TLEI) proposes to raise new equity capital to progress its pipeline of opportunities via its platforms in India, the Philippines and Vietnam.
TLEI will issue new ordinary shares of $0.01 each in the company by way of a subsequent placing.
The diversified pipeline allows for a staggered roll out starting from $25m with up to $380m in readily available assets ranging from 20MW to 450MW.
The placing price will be $1.030 per new ordinary share.
On 2 November 2022, TLEI announced its entry into Vietnam via a new local partnership creating an operational platform and hub, supplementing the existing local partnerships of its investment manager in TLEI’s other core target markets of India and the Philippines.
TLEI entered into an investment agreement for initial funding of up to $30m to purchase renewable energy assets already owned, controlled or identified by Solar Electric Vietnam or originated by the investment manager.
TLEI has a right of first refusal on new construction-ready or operational projects developed or originated by SEV and meeting TLEI’s investment criteria.
Sue Inglis, Chair of ThomasLloyd Energy Impact Trust plc, said: “It is clear that investors see the economic attraction of investing in our target markets, as well as the positive environmental and social impact these investments bring.
“As we reach the milestone of our first year in operation, we believe that the foundations for strong and efficient deployment of capital at scale are now in place and that existing and new shareholders will benefit from growing the Company through further issuance.”