Ecofin US Renewables Infrastr.Trust ECHO Closing
28 Novembre 2024 - 8:00AM
RNS Regulatory News
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
|
+1 913 981
1020
|
Stifel (Corporate Broker)
Edward Gibson-Watt
Madison Kominski
|
+44 20
7710 7600
|
Apex Listed Companies Services (UK) Limited
(Company
Secretary)
|
+44 20
3327 9720
|
Further information on the Company
can be found on its website:
https://rnewfund.com/
.
The Company's LEI
is 2138004JUQUL9VKQWD21.
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