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RNEW Ecofin U.s. Renewables Infrastructure Trust Plc

0.00 (0.00%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ecofin U.s. Renewables Infrastructure Trust Plc LSE:RNEW London Ordinary Share GB00BLPK4430 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.525 0.50 0.55 0.525 0.52 0.52 0.00 08:00:04
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -4.29M -6.73M -0.0487 -10.68 71.8M

Ecofin US Renewables Infrastr.Trust Update from QuotedData

12/09/2023 9:31am

RNS Non-Regulatory


Ecofin US Renewables Infrastr.Trust

12 September 2023

Ecofin US Renewables Infrastructure Trust- Update from QuotedData

12(th) September 2023

Storm damage reparable

Ecofin US Renewables (RNEW) has been impacted by tornado damage to a substation in Texas, cutting off its wind farm's connection to the local power grid. This is going to act as a temporary constraint on cash flows generated by this particular investment. As we explain on page 4, insurance will cover much of the loss. Nevertheless, the board has prudently reduced the company's dividend for the third and fourth quarter of 2023.

Unsurprisingly, this has impacted on the company's efforts to narrow its excessive discount to net asset value (NAV). However, solutions have already been identified to address much of the revenue shortfall and, once RNEW has put this behind it, there may be opportunities to boost income meaningfully by repowering the wind farm. That reinforces our belief that RNEW is meaningfully undervalued.

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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 Financial Conduct Authority. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.


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(END) Dow Jones Newswires

September 12, 2023 04:31 ET (08:31 GMT)

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