SEEIT Holdco Announces £105m Sale of Global Energy Efficiency Assets to Kyotherm

SEEIT Holdco Limited (SEEIT Holdco), a subsidiary of SDCL Efficiency Income Trust plc (SEIT), has announced the disposal of a diversified global portfolio of 11 operational and yielding energy efficiency infrastructure assets, to Kyotherm, for a total enterprise value of up to approximately £105 million. Kyotherm is a leading investment company specialising in financing decarbonised heat and energy efficiency projects globally.

Completion of the transaction is subject to customary closing conditions and is expected to take place by mid-April 2026.

Orrick is advising SEEIT Holdco on the transaction.

THE COMPANY

SEIT is a constituent of the FTSE 250 index and was the first UK-listed company of its kind to invest exclusively in the energy efficiency sector. The company's multi-asset portfolio includes co-generation, solar and storage, district energy and process efficiency assets, primarily located across the United Kingdom, Europe, North America and the Asia-Pacific region.

SDCL, SEIT's investment manager, is headquartered in London with a global presence, and has nearly two decades of experience investing in energy efficiency and decentralised generation projects across key markets.

THE IMPACT

The disposal is a meaningful step in SEIT's deleveraging strategy, targeted to bring pro-forma aggregate gearing down to approximately 65% of net asset value, and will result in a more streamlined portfolio increasingly focused on commercial and industrial customers and district energy solutions. The transaction underscores the continued appetite from strategic investors for high-quality, yielding energy efficiency assets, achieved against the backdrop of a competitive and challenging private market environment for such assets.

"This disposal spans multiple energy efficiency asset classes across several jurisdictions, reflecting both the breadth of SEIT's portfolio and the depth of strategic interest in the sector. We are very pleased to be supporting SEEIT Holdco on this transaction," said Ravinder Sandhu, Orrick partner.

Adam Smith, Orrick client relationship partner to SDCL/SEIT, also commented that, "We are delighted to be advising longstanding client SDCL, as investment manager to SEIT, on this significant disposal, which positions SEIT's portfolio for greater focus and long-term value in the energy efficiency sector."

THE TEAM

The cross-border, multi-disciplinary Orrick team acting for SEEIT Holdco is led by Ravinder Sandhu and supported by Rebecca Grevitt, Philippa Bourke and Milo Dunne. Valuable support for this transaction was provided by Adam Smith, Albert Yu, Sarah Stockley, Victoria Newbold, Neetu Ahlawat, Jonathan Rosen and Felicity Blackburn, in relation to the English law aspects; Kelly Choo in relation to the Singaporean law aspects; Igor Kukhta and Martin Jouvenot in relation to the French law aspects; and Joe Roger and Sadie Lister in relation to certain U.S. law aspects.

LEARN MORE

• SEEIT Holdco's news announcement
• Read More Orrick Client Results