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Research from QuotedData

25th Mar 2022 12:41

RNS Number : 0956G

Ecofin US Renewables Infrastr.Trust

25 March 2022

Ecofin US Renewables Infrastructure Trust - Research from QuotedData

25th 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/

This research is also available free on our website www.quoteddata.com where you will also find news, performance data and factsheets on every London listed Investment Company. QuotedData writes and distributes research on a number of quoted companies, facilitates meetings between those companies and existing and potential investors and assists in raising additional capital where required.

NB: Marten & Co was paid to produce this note on Ecofin US Renewables Infrastructure Trust Plc and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors.

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