Electra Investment Trust PLC (“Electra”) is pleased to announce the sale of its interests in Energy Power Resources (“EPR”) and FibroThetford to Macquarie European Infrastructure Fund.
EPR is the dominant biomass operation in the UK with five renewable energy generating plants and a 50% interest in two wind farms. One of these renewable energy plants is FibroThetford, in which Electra held Loan Stock.
Electra sold its investments in EPR and FibroThetford for £55m, compared to book values for both investments at 30 September 2004 of £20.7m and further investments made since that date of £3.8m. These combined disposals give rise to an uplift in net asset value per share of 69p since 30 September 2004.