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Trading Emissions increases price of Italian solar sale
Trading Emissions is set to net 8.64m from the sale of its remaining solar operating subsidiary, Solar Energy Italia 1, on Friday.
This lifts the initially expected net profit from 7.97m, reported on Wednesday, after certain clauses triggered a 750,000 increase in the price.
The sale of the Italian 8.4MW solar plant means Trading Emissions will no longer have any interests in Italian operating subsidiaries, nor in solar subsidiaries.
The closing and receipt of the sales proceeds remains subject to fulfilment of various conditions precedent, with the conditions set to be completed before 31 March.
Trading Emissions is a closed end investment company based in the Isle of Man which focuses on making capital profits through the purchase of emissions assets, with carbon assets constituting a core part of the company's portfolio.
As of 0944 GMT, Trading Emissions' shares were up 4.53% at 3.00p.