REG - Ecofin US Renewables - ECHO Closing

Ecofin US Renewables Infrastructure TrustAnnouncement

28/11/2024 07:00

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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)             +1 913 981 1020

 Edward Russell

 Eileen Fargis

 Stifel (Corporate Broker)                             +44 20 7710 7600

 Edward Gibson-Watt

 Madison Kominski

 Apex Listed Companies Services (UK) Limited (Company  +44 20 3327 9720
 Secretary)

Further information on the Company can be found on its website:
https://rnewfund.com/
(https://urldefense.com/v3/__https:/rnewfund.com/__;!!Lq-WxL78U-qZfjOUV8MXbA!tbbbk3Xb_dcozOiwgqNyzL5l0TTU_hVYht1nCXN_ScX3r1JRI20rfBpJ0d_M-PGlZ2JWxeWKYMbGoyQ-sm4A$)

.

 

The Company's LEI is 2138004JUQUL9VKQWD21.

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