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Advising SDCL on the sale of an energy projects portfolio

  • United Kingdom
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    The seed portfolio includes an investment pipeline of energy efficient ventures

    Eversheds Sutherland has advised SDCL EE Co (UK) GP Limited (SDCL) on its sale to SDCL Energy Efficiency Income Trust PLC (SEEIT) of a seed portfolio of nine energy efficiency projects and three investment opportunities for an aggregate sum of £57.16 million.

    A team from the energy and infrastructure group advised on the sale of the seed portfolio, which comprises of energy efficiency projects that provide exposure to LED lighting, biomass units, CHP units and other energy efficiency equipment, across a broad range of sectors, including industrial, healthcare, banking and housing.

    SEEIT acquired the seed portfolio in connection with its £100 million IPO and admission to listing on the premium category of the UK Listing Authority's Official List and the premium segment of the London Stock Exchange's main market. SEEIT is a newly formed UK investment trust which will be the first UK-listed fund to focus exclusively on the energy efficiency sector.

    Jason Lovell, Partner, commented:

    "The opportunity to support and advise SDCL on the sale of the seed portfolio to SEEIT, continuing our close relationship, was an exciting one for the team and enabled us to demonstrate our expertise across the corporate and energy practices and showcase our extensive experience advising on complex energy assets. We are delighted to have assisted SDCL in achieving valuable returns for its investors. We look forward to working with SDCL on this and other ventures over the coming years."

    Jonathan Maxwell of SDCL commented:

    “The sale of the seed portfolio to SEEIT as part of its IPO positions SEEIT as a first of a kind investment company on the main market of the London Stock Exchange to focus on energy efficiency infrastructure that offers lower cost, cleaner and more reliable energy solutions, directly to the point of use. We are grateful to have had the support of Jason and the wider Eversheds Sutherland team on the sale, who provided first class client service and pragmatic, commercial advice throughout the process.”

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