Ecofin US Renewables Infrastr.Trust Research from QuotedData
25 Marzo 2022 - 6:41AM
RNS Non-Regulatory
TIDMRNEW
Ecofin US Renewables Infrastr.Trust
25 March 2022
Ecofin US Renewables Infrastructure Trust - Research from
QuotedData
25(th) March 2022
Clear path to growth
Having just had its first birthday in December, Ecofin US
Renewables Infrastructure (RNEW) has had plenty of reasons to
celebrate. It successfully deployed all its IPO proceeds ahead of
target and managed to increase its dividend each quarter, bringing
its aggregate total dividends for 2021 to 3.2 cents per ordinary
share, a 3.2% dividend yield - again ahead of its 2-3% target for
its first financial year (the target is an annual dividend yield of
5.25% to 5.75% for 2022 onwards).
The political and regulatory environment in the US continues to
be supportive of substantial and reasonably rapid growth in RNEW's
target markets and as such, performance has been good for the
relatively new and small fund. RNEW's wholly-owned US subsidiary,
RNEW Capital, secured a $65m revolving credit facility (RCF) last
year with KeyBank (one of the premier lenders to the US renewable
energy industry) on attractive terms, which the manager says will
help pave the way to growing the company. It is also considering an
equity fundraise in the near-term, which we welcome.
Full research:
https://quoteddata.com/research/ecofin-us-renewables-infrastructure-trust-clear-path-to-growth-qd/
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