Ecofin US Renewables Infrastr.Trust ACQUISITION OF SEED ASSET (9356N)
04 Febrero 2021 - 01:00AM
UK Regulatory
TIDMRNEW
RNS Number : 9356N
Ecofin US Renewables Infrastr.Trust
04 February 2021
4 February 2021
ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC
ACQUISITION OF SEED ASSET
Ecofin U.S. Renewables Infrastructure Trust PLC ("RNEW" or the
"Company") is pleased to announce that it has now completed the
acquisition of all four seed investments described in its
prospectus dated 11 November 2020. Within just over one month from
admission, the Company has therefore now invested approximately 50%
of the net IPO proceeds.
The aggregate consideration payable for the fourth seed
investment, is approximately $24.5m. The fourth seed investment
comprises a 49.5% cash equity interest in a 107.8 MW utility scale
solar portfolio consisting of 2 operating assets in Kern County,
California , which have 100% of their revenues contracted with an
investment grade rated utility for a weighted average remaining
term of approximately 22 years.
Commenting on today's announcement, Jerry Polacek, Managing
Director and Group Lead of Private Clean Energy &
Infrastructure at Ecofin, said:
"With the four Seed Assets acquired comfortably within the
timeline outlined in the Prospectus, RNEW has demonstrated the
strong execution capabilities of its seasoned US based investment
management team. Ecofin remains focused on continuing to fulfill
RNEW's investment strategy and participating in the improved
environment for US solar and wind investment unfolding under the
new US presidential administration. The pipeline of opportunities
capable of being transacted within the next six months has grown
from the levels presented in the Prospectus and Ecofin is actively
working on a selected number of investments that it hopes to bring
to a conclusion shortly.
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://uk.ecofininvest.com/funds/us-renewables-infrastructure-trust-plc/
The Company's LEI is 2138004JUQUL9VKQWD21.
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