REG - Ecofin US Renewables - Net Asset Value(s)

Ecofin US Renewables Infrastructure TrustAnnouncement

10/05/2023 07:00

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RNS Number : 8636Y  Ecofin US Renewables Infrastr.Trust  10 May 2023

10 May 2023

 

ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC

(the "Company")

 

Quarterly Net Asset Value

 

The Company announces that its unaudited net asset value as at 31 March 2023
on a cum-income basis was $0.9394 per Ordinary Share (31 December 2022:
$0.9428) or $129.7 million (31 December 2022: $130.2 million).  The
contributors to the changes in net asset value are:

·      a $1.0 million increase ($0.0069 per Ordinary Share) to Fair
Market Value ("FMV") of investments, principally due to updates to merchant
curve power prices;

·      a $0.7 million decrease ($0.0048 per Ordinary Share) due to an
increase in the deferred tax accrual, largely driven by the increase to FMV of
investments; and

·      a $0.8 million decrease ($0.0055 per Ordinary Share) in cash and
accrued financial assets, primarily driven by lower than expected energy
production and revenue accrual relating to temporarily low availability and
corrective maintenance actions at various sites, implications of winter storm
Elliot, fund expenses, and interest expense from the Company's drawn balance
on the Revolving Credit Facility.

 

Pre-tax discount rates which were provided by the Company's valuation service
provider and used to determine FMV of investments remained flat this quarter
at 7.5% unlevered.

 

For further information, please contact:

 

 Ecofin Advisors, LLC (Investment Manager)             +1 913 981 1020

 Edward Russell

 Eileen Fargis

 Jason Benson

 Michael Hart

 Peel Hunt LLP (Joint Corporate Broker)                +44 20 7418 8900

 Liz Yong

 Luke Simpson

 Huw Jeremy

 Stifel (Joint Corporate Broker)                       +44 20 7710 7600

 Edward Gibson-Watt

 Rajpal Padam

 Madison Kominski

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

 Martin Darragh

 Maria Matheou
 FTI Consulting (Financial PR)                         +44 7976 075797

 Matthew O'Keeffe

 Mitch Barltrop

 Vee Montebello

Further information on the Company can be found on its website
at https://uk.ecofininvest.com/funds/us-renewables-infrastructure-trust-plc/
(https://uk.ecofininvest.com/funds/us-renewables-infrastructure-trust-plc/) .

 

The Company's LEI is 2138004JUQUL9VKQWD21.

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