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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ecofin U.s. Renewables Infrastructure Trust Plc | LSE:RNEP | London | Ordinary Share | GB00BLPK4430 | ORD USD0.01 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 23.90 | 0.00 | 08:00:25 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 23.40 | 24.40 | 25.20 | 23.60 | 23.60 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Trust,ex Ed,religious,charty | USD -4.29M | USD -6.73M | USD -0.0487 | -6.16 | 33M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 23.90 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 13/1/2025 | 14:59 | ALNC |  EXECUTIVE CHANGES: Various Eateries hires Young's executive as CEO |
| 29/4/2024 | 15:14 | ALNC | EARNINGS: One Media IP Group annual profit down but asset value steady |
Ecofin U.s. Renewables I... (RNEP) Share Charts1 Year Ecofin U.s. Renewables I... Chart |
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1 Month Ecofin U.s. Renewables I... Chart |
Intraday Ecofin U.s. Renewables I... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 08/1/2025 | 10:53 | :: ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST :: | 65 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 19/1/2025 08:20 by Ecofin U.s. Renewables I... Daily Update Ecofin U.s. Renewables Infrastructure Trust Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker RNEP. The last closing price for Ecofin U.s. Renewables I... was 23.90p.Ecofin U.s. Renewables I... currently has 138,078,496 shares in issue. The market capitalisation of Ecofin U.s. Renewables I... is £41,423,549. Ecofin U.s. Renewables I... has a price to earnings ratio (PE ratio) of -6.16. This morning RNEP shares opened at 23.60p |
Posted at 31/12/2024 09:30 by craigso "Best assets" has a lot to do with the technology. An onshore windfarm can have better wind years and poorer wind years, but it is well-understood. So it simply boils down to the offtaker of the power and the discount rate.Beacon is a standard photovoltaic solar farm selling the power to the city of Los Angeles. There's no reason to apply a harsh discount to its current valuation. The asset also supports project finance because there is a substantial fixed element of the revenue stream. It's when you start putting solar panels on the roofs of dozens of warehouses, etc. and call it "distributed solar" where you start straying away from something that is easily understood and straightforward to value. (as the ultimate sales price showed) Anyhow, I think that applying a discount / margin-of-error to the original purchase price of the remaining assets gives enough room for upside here. But my main worry is that the investment manager simply wants to get out of the business and might not drive a hard bargain on the remaining asset sales. |
Posted at 27/12/2024 10:29 by hugepants "craigso20 Dec '24 - 08:49 - 54 of 5710 cents of cash - assuming that it's unencumbered and available for shareholders - leaves you paying 20 cents for a windfarm and a solar farm that the company thinks is worth 43 cents." 10 cents = 8p cash (that's per share, not the total). That's a third of the market cap so its hard to see much downside from here. My original assumption was just to knock 30% of the 50p NAV. No science behind that just thought it was a big enough number to account for them overestimating the NAV! I think that may turn out to be about right although hopefully craigso is right in that they've disposed of the more rubbish stuff first and the rest is more accurately valued. And the company should also still be generating cash. So a possible 40%-50% upside from here imo. |
Posted at 20/12/2024 08:49 by craigso 10 cents of cash - assuming that it's unencumbered and available for shareholders - leaves you paying 20 cents for a windfarm and a solar farm that the company thinks is worth 43 cents.With the announcement of key personnel leaving the investment manager, though, who is still around that is incentivised to actually sell these 2 assets for 35-45 cents per share equivalent? If I had a decent answer to that question I'd load up even further... Keep an eye on the RNS feed though. There were a couple of sizable trades yesterday. If that's AVI or MIGO adding to their positions, that would provide some additional comfort. |
Posted at 13/12/2024 11:29 by craigso Hmmm...Net cash proceeds of $34.5m from asset sale. RCF balance outstanding is $32.5m, with $12.7m cash on the balance sheet. So... RCF is paid off and company has $14.7m of cash. That's about 10 cents per share of cash. Maybe there are more advisory fees, etc. to be paid out of that cash. But that little detail might be lost within the overall NAV reduction. Anyhow, a 53c NAV = $73m. Take out $15m cash and you're left with $58m of gross asset value from the Texas windfarm and the California solar farm. Previously I'd said that those two assets cost $75m and I thought that $50-60m would be a conservative outcome from a sale. 50 cents per share looks more than achievable to me. Whether the risks and other transaction costs make it worth buying this at 37 cents is another question... DYOR. |
Posted at 12/11/2024 15:50 by cc2014 something is up here. I'm being offered a decent price inside the spread to sell in size. |
Posted at 25/10/2024 07:57 by craigso Looks like it was MIGO taking their stake above 5% as well.It is certainly comforting that all of Altimas, AVI and MIGO want to add to their positions at these share prices... |
Posted at 14/10/2024 08:00 by craigso Another RNS for Altimas increasing its stake. I wonder which large shareholder is selling at the bottom??? A 7-8% stake has found its way to AVI and Altimas without moving the share price much...Anyhow, just waiting for news this week of the RCF being rolled over. And I'd be willing to bet that Beacon will be "the first sale of assets under the Managed Wind Down". |
Posted at 08/10/2024 08:42 by craigso Decided to top up my shareholding in order to average down. I wasn't planning to risk more money, but the announcement AVI taking a 5% stake gave me a lot of comfort. MIGO already has a stake, plus the US hedge fund with a big stake...This trust has had terrible luck. But there's no reason to think they can't get a decent price for the assets when sold individually. Especially the Texas windfarm once the substation is back in service... |
Posted at 09/9/2024 06:55 by hugepants 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. |
Posted at 11/7/2024 13:26 by hugepants 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." |
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