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Asian Energy Impact TrustAnnouncement

07/05/2024 07:15

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RNS Number : 3348N  Asian Energy Impact Trust PLC  07 May 2024

LEI: 254900V23329JCBR9G82

 

7 May 2024

Asian Energy Impact Trust plc

(the "Company" or "AEIT")

NISPI cash return

Asian Energy Impact Trust plc (the "Company") announces that, on 2 May 2024,
it received US$5.6 million from its investment in Negros Island Solar Power
Inc. ("NISPI").

NISPI is an investment based in the Philippines which owns and operates three
solar power projects with a capacity of 80MW. AEIT holds a 40% economic
ownership in NISPI.

The monies received arise after successful collaboration with the joint owners
to approve a partial redemption of shares in NISPI. Following this cash
return, the level of economic ownership and percentage of voting rights that
AEIT holds in NISPI remains unchanged. On a pro forma basis, the return is
broadly NAV neutral for the Company.

Sue Inglis, Chair of Asian Energy Impact Trust plc, said: "We are pleased to
have received this cash return from our investment in NISPI in advance of
finalising the details of the proposed orderly realisation strategy, which we
expect to announce later this month. The details will include the anticipated
amount and timing of the initial return of capital to shareholders should they
approve the proposal at a general meeting to be held in June. In determining
that amount, regard will be had to, amongst others, AEIT's cash balance,
accrued and prospective costs, the additional funding required of up to US$4.5
million to complete construction of the RUMS project and a provision for
contingencies."

 

Enquiries

 Asian Energy Impact Trust plc                                Tel: +44 (0)20 3757 1892

Sue Inglis, Chair
 Octopus Energy Generation (Transitional Investment Manager)  Tel: +44 (0)20 4530 8369
 Press Office                                                 aeit@octopusenergygeneration.com
 Shore Capital (Joint Corporate Broker)                       Tel: +44 (0)20 7408 4050

Mark Percy / Gillian Martin / Rose Ramsden (Corporate)
 Peel Hunt LLP (Joint Corporate Broker)                       Tel: +44 (0)20 7418 8900

Luke Simpson / Huw Jeremy (Investment Banking Division)
 Smith Square Partners LLP (Financial Advisor)                Tel: +44 (0)20 3696 7260
 John Craven / Douglas Gilmour
 Camarco (PR Advisor)                                         Tel: +44 (0)20 3757 4982
 Louise Dolan / Eddie Livingstone-Learmonth / Phoebe Pugh     asianenergyimpacttrust@camarco.co.uk
                                                              (mailto:asianenergyimpacttrust@camarco.co.uk)

About Asian Energy Impact Trust plc

Asian Energy Impact Trust plc listed on the premium segment of the main market
of the London Stock Exchange in December 2021 and was awarded the Green
Economy Mark upon admission. The Company is an Article 9 fund under the EU
Sustainable Finance Disclosure Regulation.

With effect from 1 November 2023, the Company appointed Octopus Energy
Generation as its transitional investment manager. The Company's transitional
investment management arrangements, continue in place on a monthly basis until
the orderly realisation proposal is approved by shareholders.

Further information on the Company can be found on its website at
www.asianenergyimpact.com
(https://url.avanan.click/v2/___http:/www.asianenergyimpact.com___.YXAxZTpzaG9yZWNhcDphOm86Mjc3YWRiNjllOGU4MmM0MzgwMDBmYzRkOTRjMTYzMjc6NjpkYjBjOjc3Y2IwN2Y2Yjc1OWRmZjJkMmIyMGZmZjVmOTE3ZjJiMjQ3YWNmYzc4MjQ1ZWVkNTRjZTNiYmU0N2JlMWIwMzY6cDpU)
.

About Octopus Energy Generation

Octopus Energy Generation ("OEGEN") is driving the renewable energy agenda by
building green power for the future. Its London-based, leading specialist
renewable energy fund management team invests in renewable energy assets and
broader projects helping the energy transition, across operational,
construction and development stages. The team was set up in 2010 based on the
belief that investors can play a vital role in accelerating the shift to a
future powered by renewable energy. It has a 13-year track record with
approximately £6.7 billion of assets under management (AUM) (as of
December 2023) across 19 countries and total 3.7GW. These renewable projects
generate enough green energy to power 2.4 million homes every year, the
equivalent of taking over 1.4 million petrol cars off the road. Octopus Energy
Generation is the trading name of Octopus Renewables Limited. 

Further details can be found at  www.octopusenergygeneration.com
(https://url.avanan.click/v2/___http:/www.octopusenergygeneration.com/___.YXAxZTpzaG9yZWNhcDphOm86YWU5MjAzMTY0ODg2OGJjYzQ1NDUwNTU1OGVmZTc0ZmY6NjoyOTI1OmQyNWZmZDNlNzk1MmRhMGYxNTFmYzFkZjgyMmE2OWRiODBjZGQ5MmZmYTg2YTBjNzBjY2JmZGExZDhiNDM1N2M6cDpU)
.

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