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.
Source: Morning Star