RCS - Ecofin US Renewables - Update from QuotedData

Ecofin US Renewables Infrastructure TrustAnnouncement

12/09/2023 09:45

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RNS Number : 1647M  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.

Full Research:

https://quoteddata.com/research/ecofin-renewables-infrastructure-trust-storm-damage-reparable-qd/
(https://quoteddata.com/research/ecofin-renewables-infrastructure-trust-storm-damage-reparable-qd/)

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NB: Marten & Co was paid to produce this note on Ecofin US Renewables
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