20th Sep 2021 21:12
Ecofin US Renewables Infrastructure Trust PLC - London-based investor in US renewable energy assets - Completes acquisition of twelve solar photovoltaic projects, which are at construction stage and are expected to be completed and to commence operations in phases beginning in the first quarter of 2022. The combined capacity of the projects is estimated at 69 megawatts and the aggregate asset value is about USD95 million.
"The remaining eleven assets comprising the Echo Solar portfolio are progressing their project milestones which will enable more project closings in the near term," company adds.
Also, company's investment manager in advanced talks for near term pipeline of contracted solar and wind deals committed or under exclusivity totals about USD100 million.
"Given the quantum of the advanced near-term pipeline, the company maintains its expectation of fully deploying its IPO proceeds into solar and wind investments in 2021 consistent with its target at the time of IPO issuance," adds.
Notes broader near term pipeline continues to be in excess of USD3.0 billion including two wind assets totalling USD62 million and two solar assets totalling USD50 million, each with bids submitted.
Current stock price: USD0.98
Year-to-date change: down 3.5%
By Paul McGowan; paulmcgowan@alliancenews.com
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