TRIPLE POINT ENERGY TRANSITION PLC (Alliance News) - Triple Point Energy Transition PLC on Monday announced further disposals as part of its wider wind-down.
The London-based trust is focused on investments in infrastructure projects supporting the green energy transition.
In the year that ended March 31, net asset value stood at 86.66 pence per share, down 13% from 99.44p last year.
NAV total return declined 7.3%, compared to a 9.2% increase previously, and the total dividend remains unchanged at 5.50p per share.
On March 22, shareholders approved the proposed wind down of the company amid an increasingly challenging market environment.
To date, the trust has disposed GBP61.6 million worth of assets representing 52% of gross asset value at March 31. The remaining assets are now being actively marketed.
Today the trust announced the disposal of three combined heat and power loan assets for a total of GBP17.5 million. An initial payment of GBP14.5 million will be received from P3P Partners LLP, followed by three GBP1 million instalments.
Chair John Roberts said: "Looking ahead, however, our primary goal is to continue the strong progress already made in completing our orderly wind-down in a timely fashion and with diligence. We aim to optimise the value realised from our remaining assets, with the objective of concluding the disposals efficiently and responsibly, and returning value to shareholders."
Triple Point ET shares were up 12% to 68.60 pence each in London on Monday morning.
By Elijah Dale, Alliance News reporter
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