Onyx Renewables Secures $260 Million Financing to Boost U.S. Energy Projects

SDCL Energy Efficiency Income Trust Plc ( (GB:SEIT) ) has issued an update.

Onyx Renewable Partners LP, a subsidiary of SDCL Energy Efficiency Income Trust plc, has secured a $260 million senior secured credit facility to expand its distributed energy projects across the United States. This financing allows Onyx to self-fund its project pipeline, marking a significant milestone in its development. The new facility reduces SEIT’s future funding requirements and maintains its portfolio’s gearing position. Despite challenges in the current U.S. market, SEIT is exploring private negotiations for equity capital partnerships for Onyx’s existing contracted portfolio.

Spark’s Take on GB:SEIT Stock

According to Spark, TipRanks’ AI Analyst, GB:SEIT is a Neutral.

The stock has a mixed outlook, with significant challenges in financial performance, particularly income statement concerns. Positives include strong equity financing and positive cash flows, as well as stable operational performance and strategic management efforts highlighted in recent corporate events. However, technical indicators and valuation metrics suggest caution, with no strong bullish momentum and a negative P/E ratio. The high dividend yield provides some appeal to income investors.

To see Spark’s full report on GB:SEIT stock, click here.

More about SDCL Energy Efficiency Income Trust Plc

SDCL Energy Efficiency Income Trust plc (SEIT) is a UK-listed company focused exclusively on the energy efficiency sector, with investments primarily in North America, the UK, and Europe. The company aims to deliver shareholder value through a diversified portfolio of energy efficiency projects, offering lower cost, cleaner, and more reliable energy solutions. SEIT targets an attractive total return for shareholders, with a stable dividend income and opportunities for capital growth.

Average Trading Volume: 3,810,037

Technical Sentiment Signal: Sell

Current Market Cap: £484.6M

See more data about SEIT stock on TipRanks’ Stock Analysis page.