The companies are focused on investing in companies developing renewable energy projects with installed capacities of up to 20 megawatts, investments in companies developing larger projects may also be considered. Investments will generally be in companies developing projects initiated by specialist small-scale developers and smaller projects which are not attractive to large development companies and utilities. The Manager seeks to invest in equity securities and loan stock of companies owning renewable energy projects, primarily wind energy and hydroelectric. Up to 10% of net proceeds raised from share offers may be allocated to companies developing early stage renewable energy projects prior to planning permissions being obtained.
Annual management fee is 1.5% of NAV from 31 August 2020. The incentive fee is calculated as 20% of the amount by which the Earnings in any accounting period exceeds 7p per share. The Agreement is terminable on 24 months notice.
Subject to the Continuation Vote passing, over the next five years the Directors have set a target annual dividend of 8p per ordinary share, 8p per C share and 5p per D share.