Think GeoEnergy
Summary
Baseload Capital Sweden AB has announced that it has signed a EUR 25 million convertible term facility agreement (debt financing) with SDCL Energy Efficiency Income Trust plc (SEEIT).
The Facility will be used to re-finance Baseload’s operational assets and assets in construction or late-stage development as well as to finance future pipeline projects. The Facility can be utilized during the availability period and has a 10-year tenor after each draw down. The funding is eligible when the bond is redeemed.
Commenting further on the investments, Purvi Sapre, Fund Manager of SEEIT, said: “The Baseload Capital investment provides heat and power generated locally from geothermal sources and is a great example of high efficiency renewable district energy generation. The investment generates income straight away and, as such, contributes to meeting both SEEIT’s yield and total return targets.”
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