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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

eEnergy secures £40m in project funding

(Sharecast News) - Digital energy services business eEnergy revealed on Friday that it had secured up to £40.0m in project funding from NatWest. eEnergy said the funds will be used to finance energy efficiencies for public sector customers' onsite power generation projects and will drive efficiencies by enabling cost-effective adoption of the firm's full range of energy transition technologies.

The AIM-listed group noted that it will own and operate each project through a dedicated special purpose vehicle, retaining ownership and benefiting directly from the economics.

eEnergy added that the 12-year facility consists of two £20.0m tranches, designed to match expected drawdowns, with the second tranche becoming accessible once 75% of the first has been deployed.

As of 1630 GMT, eEnergy shares had surged 28.79% to 8.50p.

Reporting by Iain Gilbert at Sharecast.com

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