Matrix, a specialist in investing in the clean energy sector, has launched two clean energy VCTs – Matrix Clean Energy VCT 1 plc and Matrix Clean Energy VCT 2 plc in a Linked Offer – with the aim of raising GBP12.5 million per VCT. The VCTs have already received reservations for investment totalling GBP10.5 million in aggregate.
The primary investment objective of both companies is to generate attractive long-term levels of income by investing the majority of net proceeds raised in companies undertaking Clean Energy projects, predominantly industrial rooftop solar energy projects in the UK and potentially Europe.
The two companies, will aim to pay to shareholders average annual dividends of 6.5p per share, from year one to year five, subscribed at GBP1 per share. This represents an annual 9.3% return on the net investment of 70p per share for qualifying investors who are able to claim the full 30% upfront income tax relief. To receive an equivalent net yield, higher rate tax payers would need a dividend of 12.4%, and additional rate tax payers would require a dividend of 14.5%.
Both new VCTs will be advised by Matrix-Securities Limited (a wholly owned subsidiary of Matrix Group) through its clean energy team. The Matrix Clean Energy Team has extensive renewable energy project management and finance experience across all sectors – including solar PV; solar thermal; wind; hydro; bio-mass; bio-fuel; CHP and anaerobic digestion across the UK and Europe – and experience in sourcing, and completing, clean energy projects, arranging the bank finance and managing the power generation projects from planning through to the production and sale of electricity.
