Ecofin US Renewables Infrastr.Trust Acquisition Closings (9292O)
13 Octubre 2021 - 2:27AM
UK Regulatory
TIDMRNEW
RNS Number : 9292O
Ecofin US Renewables Infrastr.Trust
13 October 2021
13 October 2021
ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC
Acquisition Closings
The Board of Ecofin U.S. Renewables Infrastructure Trust PLC
("RNEW" or the "Company") is pleased to announce the closing of the
following acquisitions, which will further deploy the Company's IPO
proceeds.
Completion of the acquisition of Skillman Solar
In May, the Company announced that it had signed an agreement to
acquire a 2.6 MW commercial solar asset ("Skillman Solar") with an
asset value of approximately $6.0 million and a cash equity value
of approximately $4.0 million. On 30 September, the Company closed
the acquisition of Skillman Solar. The project's construction is
now substantially completed and the system is expected to be
interconnected to the grid and become operational in the fourth
quarter of 2021.
Acquisition of an additional operating commercial solar asset in
New Jersey
In addition, the Company has acquired a 2.0 MW commercial solar
facility ("Delran Solar") for approximately $3.0 million,
representing its second solar investment in New Jersey. The Delran
Solar project has been operating since mid-2020 and will
immediately add distributable cash flow to RNEW in 2021.
These two high quality solar projects both reinforce the
differentiated nature of RNEW through its 15 year fixed price
feed-in-tariff ("FIT") for the projects renewable energy credits
and a fixed price power purchase agreement ("PPA") with two large
corporate customers, that extend for up to a 30 year term for
Skillman Solar and 25 years for Delran Solar. Combined, the FIT and
PPA fixed price revenue contracts for these acquisitions further
mitigate RNEW's exposure to volatile wholesale power prices and
provide economical sustainable energy to its customers to
decarbonize their operations.
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 +44 207 710 7600
PraxisIFM Fund Services (UK) Limited (Company
Secretary)
Martin Darragh
Maria Matheou +44 204 513 9260
FTI Consulting (Financial PR)
Matthew O'Keeffe
Mitch Barltrop
Vee Montebello +44 797 607 5797
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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END
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