Triple Point Energy Transition PLC – a London-based trust company specializing in investments in infrastructure projects supporting the transition to green energy – announces that it is in active discussions with P3P Partners LLP regarding a payment plan for a deferred consideration for the sale of Triple Point’s cogeneration project portfolio. This portfolio includes loans to Harvest, Glasshouse and Spark Steam, as part of a refinancing by P3P Partners totaling £17.5 million. The disposal resulted in an immediate payment of GBP 14.5 million received in June, as well as three subsequent payments of GBP 1.0 million to be received in September 2024, June 2025 and September 2026 under a promissory note agreement. However, the first payment of £1 million, made on September 30, was only “partly paid”. The company says it has “reserved all of its rights under the promissory note agreement.” She will provide an update on the situation once the discussions are over.
Current share price: 45.53 pence, closed down 3.1% in London on Friday afternoon.
Change over 12 months: down 21%.
By Emily Parsons, Alliance News reporter
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