TIDMRNEW

RNS Number : 2116K

Ecofin US Renewables Infrastr.Trust

31 December 2020

31 December 2020

ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC

ACQUISITION OF SEED ASSETS

Ecofin U.S. Renewables Infrastructure Trust PLC ("RNEW" or the "Company") is pleased to announce that it has now completed the acquisition of three of the four seed investments described in its prospectus dated 11 November 2020.

The third seed investment, acquired for an aggregate consideration of $21.1m, includes a 100% ownership interest in a 11.3 MW commercial rooftop and ground-mount solar portfolio consisting of 52 operating assets in Massachusetts and 1 operating asset in Connecticut ("Seed Investment 3"), which have 100% of their revenues contracted with a weighted average remaining term of approximately 16 years.

Commenting on today's announcement, Jerry Polacek, Managing Director and Group Lead of Private Clean Energy & Infrastructure at Ecofin, said:

"With this portfolio of contracted operating solar assets closed, RNEW has acquired three of the four seed investments totalling approximately 60% of the seed portfolio within two weeks of its initial listing. Ecofin remains focused on completing the acquisition of the remaining seed investment ("Seed Investment 1") in early 2021 and on continuing to fulfill RNEW's investment strategy."

All definitions in this announcement refer to the Prospectus dated 11 November 2020.

 
 For further information, please contact: Ecofin Advisors, LLC (Investment Manager) 
    Jerry Polacek 
    Matthew Ordway 
    Prashanth Prakash                             +1 913 981 1020 
   Stifel (Corporate Broker) 
    Mark Bloomfield 
    Nick Donovan 
    Maarten Freeriks                            +44 20 7 710 7600 
 
  Further information on the Company can be found on its website 
  at https://ecofininvest.com/rnew. 
  The Company's LEI is 2138004JUQUL9VKQWD21.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQDXBDDDDXDGGG

(END) Dow Jones Newswires

December 31, 2020 02:00 ET (07:00 GMT)

Ecofin U.s. Renewables I... (LSE:RNEW)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Ecofin U.s. Renewables I... Charts.
Ecofin U.s. Renewables I... (LSE:RNEW)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Ecofin U.s. Renewables I... Charts.