Ecofin U.s. Renewables I... Share Discussion Threads

[gregatimb] 10/9/2024 08:18

It's taken them a year to get to this point! This could take years. Meantime they are collecting their directors fees for presiding over this car crash.

[hugepants] 09/9/2024 06:55

So they are implementing a managed wind-down after consultation with shareholders and the investment manager.


Nav written down to 49.5p. Discount to NAV is about 24%



The proposed new Investment Policy will be one of effecting an orderly wind-down of the Company with a view to maximising the value received from the Company's assets and making any returns to shareholders, once the Company's Revolving Credit Facility has been repaid. The Company will not make any new investments save that investments may be made in existing portfolio companies when considered appropriate to maximise value for shareholders.



Shareholders should note that during the Managed Wind Down, the Company intends to maintain its investment trust status and listing. Maintaining the listing would allow shareholders to continue to trade shares during the Managed Wind Down.

[hugepants] 11/7/2024 13:26

The Board of RNEW is pleased to announce the appointment of Brett Miller as a non-executive director of the Company with immediate effect. Brett has wide-ranging investment trust experience, particularly in the restructuring and managed run-off of a number of listed closed end funds across a range of asset classes, delivering value to shareholders. Brett will work closely with Ecofin Advisors, LLC, RNEW's investment manager, and other board members on the Company's ongoing strategic review. As part of this, it is intended that Brett will provide consultancy services to RNEW. Brett will join the Board's Audit Committee, Risk Committee and Management Engagement Committee.

Patrick O'Donnell Bourke, Chair of RNEW, said: "We welcome Brett to the Board. We are confident his particular expertise will be very valuable as we progress towards the conclusion of our strategic review. As announced on 17 June 2024, the review is taking longer than intended and we will make an announcement to shareholders as soon as we can."

[hugepants] 17/6/2024 13:22

Divi announcement


NAV now 62.6p


As announced on 8 September 2023, the Board has been undertaking a review of the Company's strategy -- focusing on a sale of the Company's assets. If successful, the sale of assets is expected to result in cash being returned to Shareholders in connection with a winding up of the Company. Marathon Capital ("Marathon"), financial adviser to the Board, has conducted a wide-ranging exercise to identify potential buyers for the Company's portfolio of assets. Specific discussions and negotiations are ongoing but have been taking longer than anticipated..

[hugepants] 14/5/2024 08:23

Altimas now with 14.26% (including 2.3% cfds)

[hugepants] 29/4/2024 12:56

Final Results.


Not much new I can see. No clarity on size of dividend going forwards.

"...The review is ongoing and has taken longer than expected. As part of the review, Marathon has conducted a comprehensive and wide-ranging exercise to identify potential buyers', appetite for the Company's portfolio of assets. This process has resulted in specific discussions and negotiations taking place which, hopefully, will soon be drawing to a conclusion..."

[hugepants] 26/4/2024 14:54

Still dead here and discount now 40%
Altimas have been increasing their shareholding steadily. This week they've gone from 7.7% to 11.7%




Investment Strategy
Almitas Capital strives to achieve superior risk-adjusted returns for clients by investing in undervalued equity and debt securities. Our investment process employs fundamental and statistical analysis to find securities trading at discounts to intrinsic value throughout the world.

[hugepants] 15/2/2024 14:32

Q3 update


dividend


NAV 85.2 cents or 67.7p
So discount currently 32% and 47% upside to NAV.

They seem to be making some progress on sale of company.

"...As part of the Strategic Review announced on 8 September 2023 (RNS Number: 7853L), Marathon Capital ("Marathon") is acting as financial adviser in relation to a potential sale process for the Company's assets which, if successful, would result in an expected return of cash to shareholders, in connection with a winding up of the Company or similar transaction. The Company and Marathon continue to make progress and the Board will make further announcements when appropriate."

[hugepants] 16/1/2024 09:35

signs of life here jim.

Dont have access to above but news due on Whirlwind wind farm.

[gregatimb] 21/7/2022 16:18

Major and sudden exodus of the fund managers. was it because the fund has failed to achieve desired scale ?

[jonwig] 19/10/2021 06:13

"The Company announces that the unaudited net asset value as at 30 September 2021 on a cum-income basis was $125.9 million or $1.0067 per ordinary share. The primary drivers of the 2.2 cent quarterly increase in NAV per share were a decrease in the discount rates applied to the Beacon Solar 2 and 5 utility scale operating assets to bring them in line with market rates, and a reduction to solar panel degradation rates to conform to estimates consistently used by the Company's independent engineer."

[jonwig] 08/9/2021 06:24

Interim results:



Nothing to get worried or excited about!

I'm glad I didn't get invested here, but the GBP share price performance is forex-driven. In USD terms, it's around 100c still.

[pob69] 18/5/2021 11:32

New (paid for) initiation report

[jonwig] 04/5/2021 16:54

Yes, it's getting a bit crowded, but I thought the US might be a relatively new area.

[bathcoup] 04/5/2021 16:46

Bid-offer gap is quite large. I had a look a few months ago but didn't invest because I already had a few stocks in renewable energy.

[jonwig] 04/5/2021 06:33

NAV $0.9906, divi 0.4c forfirst quarter. And:

The Board is also pleased to provide several positive developments with respect to the Company's portfolio and investment pipeline. RNEW has committed approximately $6 million to acquire a commercial-scale ground-mount solar project in New Jersey with contracted revenues for 30 years. The closing of this acquisition is subject to certain conditions which mitigate risk for RNEW, including completion of mechanical construction expected in August 2021. This project will extend the term of RNEW's contracted revenues from investment-grade counterparties whilst also diversifying its asset base by location. Following this transaction, RNEW will have committed or invested approximately 55% of the IPO proceeds.

The Company's Investment Manager reports that its near-term (6 month) pipeline of potential investment opportunities remains strong and totalled $4.9 billion as of 31 March 2021, an increase of $1.6 billion since 31 December 2020. Moreover, the wind pipeline expanded from circa $300 million at year-end 2020 to more than $1.5 billion by 31 March 2021. The Investment Manager is currently pursuing near-term wind and solar investment opportunities that offer the potential for the Company's portfolio to be substantially invested in the coming months. The Investment Manager is focused on execution and the Board remains confident about fulfilling its target to fully commit the Company's IPO proceeds in 2021.

[jonwig] 04/2/2021 07:21

Acquisition of seed asset:



Now 50% invested.

[jonwig] 22/12/2020 07:34

Shares issued at $1 under ticker RNEW.
Quoted in sterling at 73.48p under ticker RNEP.
Dealings commence today.

Since the assets are USD, the sterling shares will carry exchange risk and probably be more volatile, as the daily exchange rate could move around quite a lot.

[jonwig] 22/12/2020 07:33

Significant shareholders (total 125,000,001 SHS):

Sustainable Invs Fund (US) ... 22,500,000 18.0%
RathboneInv Mgt .............. 12,499,986 10.0%
Insight Inv Mgt ...............11,250,000. 9.0%
J M Finn Nominees ............. 7,606,470. 6.1%
Stichting Sust. Impact Fund ... 7,000,000. 5.6%
Davis Inv Hldngs (US) ......... 6,000,000. 4.8%
South Yorks Pensions .......... 5,000,000. 4.0%