Triple Point Energy makes GBP1 million investment in lighting provider

(Alliance News) - Triple Point Energy Transition PLC on Tuesday said it has completed the funding ...

Alliance News 8 November, 2022 | 2:31PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Triple Point Energy Transition PLC on Tuesday said it has completed the funding of its first energy efficient light opportunity.

The London-based energy company provided GBP1 million of funding to a lighting solutions provider, which has installed efficient lighting and controls at a large retail logistics specialist.

The transaction is structured as a "Lighting as a Service" arrangement. Triple Point will receive a contractual, but as yet unspecified, income from the logistics specialist over a five year period.

It did not say who the logistics company was, only that it is part of a broader group with an investment grade credit rating.

"The installation and operation of tailored, energy efficient lighting equipment is a long-term positive improvement for a business' operations, staff and customers. This investment is the first that TENT has made in the lighting sector, bringing further technological diversification to our portfolio," said Chair John Roberts.

Triple Point shares were trading 0.5% higher at 70.83 pence each in London on Tuesday afternoon.

By Holly Beveridge; hollybeveridge@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Triple Point Energy Transition Ord 45.75 GBX -0.54 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures