SDCL Energy Efficiency Income Trust has paid $177 million in cash to acquire one of North America's largest district energy systems from a fund managed by an affiliate of Stonepeak Infrastructure Partners.
The energy system, known as RED-Rochester, has 117 megawatts of steam turbine generators, plus boilers, chillers and other equipment, that provide exclusive utility services to commercial and industrial customers within the 1,200-acre Eastman Business Park in Rochester, N.Y.
The acquisition has been funded from existing cash reserves and RCF facilities.
SDCL Energy Efficiency Income Trust is the first U.K.-listed company of its kind to invest exclusively in the energy efficiency sector. Its projects are primarily located in the United Kingdom, Europe and North America and include a portfolio of cogeneration assets in Spain, a portfolio of recycled energy and cogeneration projects in the United States, a regulated gas distribution network in Sweden, and a portf