Ecofin US Renewables Infrastr.Trust ECHO Closing

RNS Number : 9146N

Ecofin US Renewables Infrastr.Trust

28 November 2024

 

28 November 2024

 

ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC

(the "Company")

 

ECHO Closing

 

The Company announces that its six ground-mount solar projects in Minnesota, Virginia and Delaware, known as the ECHO portfolio, have now all achieved both substantial and final completion and on 26 November and 27 November 2024, respectively, both the tax equity partnership with Monarch Private Capital (MPC) and the $15.6 million project-specific back-leverage bank facility provided by Fifth Third bank achieved final closing.

A portion of the proceeds from the final ECHO closing will be used to pay down borrowings drawn under the Company's revolving credit facility (RCF) with KeyBank, after some holdback for working capital needs. This will further reduce the borrowing base under that facility following the amendment and extension (to October 2025) announced on 21 October 2024. Consistent with implementation of the proposed managed wind down, as assets are sold and proceeds used to further pay down the RCF, the RCF borrowing base will reduce further.

 

For further information, please contact:

 

Ecofin Advisors, LLC (Investment Manager) Edward Russell Eileen Fargis	[phone]
Stifel (Corporate Broker) Edward Gibson-Watt Madison Kominski	[phone]
Apex Listed Companies Services (UK) Limited (Company Secretary)	[phone]

Further information on the Company can be found on its website: https://rnewfund.com/

.

 

The Company's LEI is 2138004JUQUL9VKQWD21.

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