Dalmore Capital, an independent fund management company that invests in long-term infrastructure assets on behalf of institutional investors, has acquired Triple Point Energy Transition Holdings for £44.1m.
This primarily includes nine run-of-river hydro sites located in Scotland, totalling 6.6MW in capacity.
The portfolio provides base load renewable generation, which is key to delivering a net zero electricity mix and balancing other forms of intermittent supply. It is highly cash generative with revenues backed by long term Feed-in-Tariff subsidies benefiting from RPI indexation. The portfolio offers an attractive risk adjusted return, high inflation correlation and strong downside protection.
The deal follows Dalmore’s acquisition of a further stake in Agility Trains West in 2024, a concession contract established to manufacture, finance and maintain 57 Hitachi Class 800 bi-mode trains for operation by Great Western Railway. Dalmore’s recent investment activity is underpinned by a broader c£1bn pipeline of future investment opportunities.
