Ecofin U.S. Renewables Proposes Sale of Solar Assets in Strategic Wind-Down

Ecofin U.S. Renewables Infrastructure Trust Plc ( (GB:RNEW) ) has provided an update.

Ecofin U.S. Renewables Infrastructure Trust PLC has announced a significant move towards a managed wind-down of its business through the proposed sale of its U.S. distributed solar assets to True Green Capital Fund IV for approximately $38.4 million in cash and the assumption of $15.6 million in debt. This decision follows feedback from major shareholders seeking a cash exit and challenges in growing the company, leading to a strategic review aimed at asset disposal. The sale marks the first step in this wind-down process, with completion dependent on shareholder approval and other regulatory conditions. The proceeds will be used to fully repay the company’s revolving credit facility, with expectations of a reduced net asset value per share post-completion.

More about Ecofin U.S. Renewables Infrastructure Trust Plc

Ecofin U.S. Renewables Infrastructure Trust PLC operates in the renewable energy sector, focusing on the management and investment in distributed solar assets across the United States. The company primarily deals with the acquisition and disposal of renewable energy assets, catering to a market interested in sustainable and eco-friendly energy solutions.

YTD Price Performance: -24.90%

Average Trading Volume: 2,000

Technical Sentiment Consensus Rating: Buy

Current Market Cap: €54.28M

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