# SDCL Efficiency Income Trust Plc secures $260m for Onyx growth

- Link: https://www.directorstalkinterviews.com/sdcl-efficiency-income-trust-plc-secures-260m-for-onyx-growth/4121201622
- Published: 2025-06-11T07:46:18+01:00
- Author: Amilia Stone

**SDCL Efficiency Income Trust plc **(LON:SEIT) has advised that its wholly owned
subsidiary, Onyx Renewable Partners LP, has secured a new senior secured credit 
facility to support the growth of Onyx’s portfolio of distributed energy projects
across the United States. As a result of securing this financing, and based on its
current growth profile, Onyx is now able to self-fund its upcoming pipeline, which
represents a key milestone in Onyx’s evolution as a mature platform.

The $260 million senior secured facility will replace the existing $115 million 
RCF at Onyx and will directly support the ongoing construction and operation of 
Onyx’s clean energy infrastructure projects including onsite solar PV and battery
storage. The facility was arranged and led byApterra Infrastructure Capital.

**Outcomes for SDCL Efficiency Income Trust**

The new facility will substantially reduce the future funding requirements from 
SEIT’s RCF whilst having minimal effect on the look through gearing position of 
the portfolio as a whole.

The majority of Onyx’s value is underpinned by contracted projects that are relatively
straightforward to assess and value. However, a smaller proportion, up to 15% of
Onyx’s valuation, is attributed to its platform value, comprising growth potential
and development pipeline, which is currently more challenging to capitalise.

Despite receiving a number of proposals from interested parties for the entire entity,
in the current market environment, characterised in the United States by elevated
policy uncertainty, a disposal of Onyx has proven difficult to achieve on acceptable
terms. Rather than continuing with its formal, externally advised disposal process
for Onyx, the Investment Manager is pursuing selected alternatives for a privately
negotiated transaction, including but not limited to equity capital partnerships
for Onyx’s existing contracted portfolio. A limited number of parties have been 
carefully selected to enter into private negotiations.

Further details and updates on the Company will be available in the upcoming annual
report and accounts.

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