4th Feb 2021 12:15
Ecofin US Renewables Infrastructure Trust PLC - London-based investor in US renewable energy assets - Completes acquisition of fourth and final seed investment assets announced back in November for US24.5 million. Says fourth seed investment comprises a 50% cash equity interest in a 107.8 megawatts utility scale solar portfolio consisting of two operating assets in Kern County in California, US. Notes assets have 100% of revenue contracted, with an investment grade rated utility for a weighted average remaining term of 22 years.
"With the four seed assets acquired comfortably within the timeline outlined in the prospectus, Ecofin has demonstrated the strong execution capabilities of its seasoned US-based investment management team. 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," says Jerry Polacek, managing director & group lead of private clean energy & infrastructure at Ecofin.
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By Zoe Wickens; [email protected]
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