Ecofin U.S. Renewables Infrastructure Trust plc's investment objective is to provide shareholders with an attractive level of current distributions by investing in a diversified portfolio of mixed renewable energy and sustainable infrastructure assets predominantly located in the United States with prospects for modest capital appreciation over the long term.
Fund Stats as of 04/11/2024:
Share Price (US$)
$0.39
Latest Quarterly NAV
$0.6503
Premium/Discount
-50.86%
Dividends declared year to date
0.7¢
Ecofin U.S. Renewables Infrastructure Trust PLC (“RNEW” or the “Company”) targets attractive risk-adjusted returns and a sustainable dividend yield through a differentiated investment strategy focused on the middle market of U.S. renewable energy.
Proud to be awarded the London Stock Exchange Green Economy MarkEcofin U.S. Renewables Infrastructure Trust PLC (“RNEW” or the “Company”) is a closed ended investment company incorporated in England and Wales. The Company’s ordinary shares (“Shares”) were admitted to the Official List of the Financial Conduct Authority and to trading on the premium listing segment of the main market of the London Stock Exchange on 22 December 2020. The Company’s ordinary shares can be traded in USD (ticker “RNEW”), or in GBP (ticker “RNEP”). The Company has been awarded the London Stock Exchange Green Economy Mark.
The Company’s investment objective is to provide Shareholders with an attractive level of current distributions by investing in a diversified portfolio of mixed renewable energy and sustainable infrastructure assets predominantly located in the United States with prospects for modest capital appreciation over the long term.
RNEW operates with ESG considerations and criteria analysis integrated in its Investment Manager’s investment process to optimize its impact and mitigate risk. Its activities seek to directly contribute to decarbonising the power sector predominantly through long-term sustainable energy investments in wind, solar, and other types of renewable and sustainable infrastructure.
RNEW is managed by Ecofin Advisors, LLC (the “Investment Manager”) which is SEC registered and has been appointed as the Company’s alternative investment fund manager (“AIFM”).
| Ordinary share dividends declared | February, May, August, November |
| AGM | June |
| Half-year end | 30 June |
| Release of Interim Report | September |
| Financial year-end | 31 December |
| Release of Annual Report | April |
8 investments
seven investments completed since the IPO on 22 December 2020
Diversified utility scale and commercial solar portfolio of
65 assets
spanning eight U.S. states
reflects committed investments
100%
IPO proceeds committed
as of 31 December 2021
|
Investment Name |
Sector |
State |
Capacity (MW)1 |
Ownership2 |
Number of assets |
Phase |
Start of Operations |
Remaining revenue contract term |
Contracted Revenue Source(s) |
Acquisition Date |
| Beacon Solar 2 | Utility Solar | California | 29.5 | 49.50% | 1 | Operating | 2017 | 18.5 | PPA with utility | Feb-21 |
| Beacon Solar 5 | Utility Solar | California | 23.9 | 49.50% | 1 | Operating | 2017 | 18.5 | PPA with utility | Feb-21 |
| SED Solar Portfolio | Commercial Solar | Massachusetts, Connecticut | 11.3 | 100% | 52 | Operating | 2012-2019 | 12.1 | PPA with municipalities, schools, universities, and commercial offtakers (including fixed price contract for solar incentives) | Dec-20 |
| Ellis Road Solar | Commercial Solar | Massachusetts | 7.1 | 100% | 1 | Operating | 2021 | 17.0 | FIT with utility | Dec-20 |
| Oliver Solar | Commercial Solar | California | 4.8 | 100% | 1 | Operating | 2021 | 11.4 | PPA with commercial offtaker | Dec-20 |
| Skillman Solar | Commercial Solar | New Jersey | 2.6 | 100% | 1 | Operating | Q3 2022 | 13.1 | FIT with state power agency; commercial offtaker | Sep-21 |
| Delran Solar | Commercial Solar | New Jersey | 2.0 | 100% | 1 | Operating | 2020 | 11.0 | FIT with state power agency; commercial offtaker | Oct-21 |
| Whirlwind Energy | Wind | Texas | 59.8 | 100% | 1 | Operating | 2007 | 3.5 | PPA with utility | Oct-21 |
| Echo Solar | Utility Solar | Minnesota | 36.0 | 100% | 6 | Construction | 2022-2023E | 24.0 | PPA with utility | Jul-21 |
|
Totals |
|
|
176.9 |
|
65 |
|
|
13.2 |
|
|
| Investment Name | Sector | State | Actual (GWh) | Budget (GWh) | GWh Above (Below) Budget | % Above (Below) Budget |
| Beacon 2 | Utility-Scale Solar | California | 27.57 | 33.90 | (6.3) | (18.7%) |
| Beacon 5 | Utility-Scale Solar | California | 22.79 | 26.15 | (3.4) | (12.9%) |
| SED Solar Portfolio | Commercial Solar | Massachusetts, Connecticut | 6.21 | 6.29 | (0.1) | (1.2%) |
| Ellis Road Solar | Commercial Solar | Massachusetts | 3.53 | 4.32 | (6.3) | (18.2%) |
| Oliver Solar | Commercial Solar | California | 3.69 | 3.84 | (3.4) | (3.8%) |
| Delran Solar | Commercial Solar | New Jersey | 1.20 | 1.25 | - | (3.6%) |
| Skillman Solar | Commercial Solar | New Jersey | 1.61 | 1.75 | (0.1) | (8.4%) |
| Echo Solar - MN | Commercial Solar | Minnesota | 7.89 | 11.32 | (3.3) | (29.6%) |
| Echo Solar - VA1 | Commercial Solar | Virginia | 12.59 | 14.40 | (1.8) | (12.5%) |
| Echo Solar - DE | Commercial Solar | Delaware | 4.55 | 5.19 | (0.6) | (54.6%) |
| Solar Subtotal | 91.71 | 108.40 | (16.7) | (15.4%) | ||
| Whirlwind | Wind | Texas | 60.42 | 101.24 | (40.8) | (40.3%) |
| Wind Subtotal | 60.42 | 101.24 | (40.8) | (40.3%) | ||
| Total | 152.13 | 209.64 | (57.5) | (27.4%) |
The companies/securities are shown for illustrative purposes only and their inclusion should not be interpreted as a recommendation to buy or sell. The data is historic information as at the stated date, and should not be assumed to be the current or future holdings of the Fund. No liability is accepted in the provision of this data.
Ecofin U.S. Renewables Infrastructure Trust plc (RNEW)
As of 04/11/2024
Share Price (US$)
$0.3900
Share Price Change Percentage
1.2987%
Latest Quarterly NAV 1
$0.6503
Premium/Discount
-50.8630%
as of 04/11/2024
(as of 04/11/2024)
RNEP (GBP) price information is available via London Stock Exchange
| Date | Dividend 1 | Payment Date | Record Date | Ex-Date |
|---|---|---|---|---|
| 17/06/2024 | 0.7¢ | 19/07/2024 | 28/06/2024 | 27/06/2024 |
| 31/1/2024 | 0.7¢ | 15/3/2024 | 23/2/2024 | 22/2/2024 |
| 11/02/2023 | 0.7¢ | 30/11/2023 | 11/10/2023 | 11/09/2023 |
| 07/08/2023 | 0.7¢ | 08/09/2023 | 18/08/2023 | 17/08/2023 |
| 10/05/2023 | 1.4¢ | 05/06/2023 | 19/05/2023 | 18/05/2023 |
| 31/01/2023 | 1.4¢ | 27/02/2023 | 10/02/2023 | 09/02/2023 |
| 31/10/2022 | 1.4¢ | 28/11/2022 | 11/11/2022 | 10/11/2022 |
| 28/07/2022 | 1.4¢ | 29/08/2022 | 12/08/2022 | 11/08/2022 |
| 28/04/2022 | 1.4¢ | 10/06/2022 | 27/05/2022 | 26/05/2022 |
| 27/01/2022 | 1.4¢ | 11/03/2022 | 25/02/2022 | 24/02/2022 |
| 19/10/2021 | 0.8¢ | 03/12/2021 | 19/11/2021 | 18/11/2021 |
| 02/08/2021 | 0.6¢ | 27/08/2021 | 13/08/2021 | 12/08/2021 |
| 04/05/2021 | 0.4¢ | 10/06/2021 | 14/05/2021 | 13/05/2021 |
Represents US$ cents per ordinary share
Shareholders have the option to receive dividends in US$ or GBP
The Company’s ordinary shares are traded on the London Stock Exchange.
LEI: 2138004JUQUL9VKQWD21
ISIN: GB00BLPK4430
SEDOL (traded in U.S. dollars): BLPK443
SEDOL (traded in sterling): BMXZ812
Ticker (traded in U.S. dollars): RNEW
Ticker (traded in sterling): RNEP
The Company releases its NAV to the London Stock Exchange quarterly. These announcements are available on the Reuters and Bloomberg news services, as is other information about the Company. They are also available at the link above.
| Declared | Dividends declared 1 | Payment Date | Record Date | Ex-Date | |||||
|---|---|---|---|---|---|---|---|---|---|
| 17/06/2024 | 0.7¢ | 19/07/2024 | 28/06/2024 | 27/06/2024 | |||||
| 31/1/2024 | 0.7¢ | 15/3/2024 | 23/2/2024 | 22/2/2024 | |||||
| 2/11/2023 | 0.7¢ | 30/11/2023 | 10/11/2023 | 9/11/2023 | |||||
| 8/7/2023 | 0.7¢ | 9/8/2023 | 8/18/2023 | 8/17/2023 | |||||
| 5/10/2023 | 1.4¢ | 6/5/2023 | 5/19/2023 | 5/18/2023 | |||||
| 1/31/2023 | 1.4¢ | 2/27/2023 | 2/10/2023 | 2/9/2023 | |||||
| 10/31/2022 | 1.4¢ | 11/28/2022 | 11/11/2022 | 11/10/2022 | |||||
| 7/28/2022 | 1.4¢ | 8/29/2022 | 8/12/2022 | 8/11/2022 | |||||
| 4/28/2022 | 1.4¢ | 6/10/2022 | 5/27/2022 | 5/26/2022 | |||||
| 1/27/2022 | 1.4¢ | 3/11/2022 | 2/25/2022 | 2/24/2022 | |||||
| 10/19/2021 | 0.8¢ | 12/3/2021 | 11/19/2021 | 11/18/2021 | |||||
| 8/2/2021 | 0.6¢ | 8/27/2021 | 8/13/2021 | 8/12/2021 | |||||
| 5/4/2021 | 0.4¢ | 6/10/2021 | 5/14/2021 | 5/13/2021 | |||||
represents US$ cents per ordinary share
Patrick O'D Bourke
25 years experience
Tammy Richards
25 years experience
Louisa Vincent
30 years experience
David Fletcher
40 years experience
Eileen Fargis
Managing Director -
Private Equity Sustainable Infrastructure
20+ years industry experience
Nancy Johnson, CPA
Vice President - Finance & Asset Management
13 years industry experience
Edward Russell
Senior Managing Director
37 years industry experience
Sanne Fund Services (UK) Limited
125 London Wall
London
EC2Y 5AS
Sanne Fund Services (UK) Limited
125 London Wall
London
EC2Y 5AS
Stifel Nicolaus Europe Limited
150 Cheapside
London EC2V 6ET
Norton Rose Fulbright LLP
3 More London Riverside
London
SE1 2AQ
BDO LLP
BDO LLP
55 Baker Street
London
W1U 7EU
Computershare Investor Services PLC
The Pavilions, Bridgwater Road, Bristol
BS99 6ZZ, United Kingdom
Telephone for enquiries: +44 (0)370 703 6234
www.investorcentre.co.uk
The share register for Ecofin U.S. Renewables Infrastructure Trust plc is maintained by Computershare Investor Services. If you have a problem – such as a lost documentation or dividend cheque – please contact Computershare Investor Services directly. Your account details may also be accessed by using their website.
Computershare Investor Services PLC
The Pavilions, Bridgwater Road, Bristol
BS99 6ZZ, United Kingdom
Telephone for enquiries: +44 (0)370 703 6234
=
=
Impact goal: Allocate capital using an ESG integrated investment process to build and operate a diversified portfolio of renewable energy assets that achieves RNEW’s investment objective
The Company’s emphasis on ESG comes from the top: its Board of Directors is diverse and has substantial and relevant investment experience to provide strong corporate governance.
RNEW is focused on allocating capital using an investment process which fully integrates ESG considerations and analysis to build and operate a diversified portfolio of renewable energy assets consistent with RNEW’s investment objective. The Company has selected Ecofin as its investment manager which aligns with its investment and impact objectives.
Ecofin, through its parent company, is a signatory to the Principles for Responsible Investment (PRI) and incorporates ESG analysis into its investment and reporting process. All Ecofin’s investment strategies for renewable infrastructure are designed to provide investors with attractive long-term returns and a level of impact that aligns with United Nations Sustainable Development Goals:
Due to legal restrictions, the contents of the following web pages may not be accessed by persons who are located in the United States, Canada, Australia, New Zealand, Japan, the Republic of South Africa or residents in any EU Member State (other than any EU Member State where Ecofin U.S. Renewables Infrastructure Trust PLC’s (the “Company’s”) shares are legally marketed) or in any other country where an offer of the securities to the public is not taking place.
The promotion of shares in the Company is restricted under the Alternative Investment Fund Managers Directive 2011/61/EU (the “AIFM Directive”) and, consequently, information contained on the pages that follow is only directed at persons to whom shares in the Company may lawfully be marketed pursuant to the AIFM Directive.
The Company has not been, and will not be, registered under the United States Investment Company Act of 1940, as amended, (the “US Investment Company Act”), and investors will not be entitled to the benefits of the US Investment Company Act. The shares of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”), or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold, exercised, resold, transferred or delivered, directly or indirectly, in or into the United States or to or for the account or benefit of any US Person (within the meaning of Regulation S under the US Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction in the United States. There has not been and will be no public offer of the Shares in the United States.
While the Company has taken reasonable care to ensure that the information on this website (other than information accessed by hyperlink) is accurate at the time of last revision of the website, the Company accepts no liability for the accuracy or completeness or use of, nor any liability to update, the information contained on this website. The contents of this website should not be construed as the giving of advice or the making of a recommendation and should not be relied on as the basis for any decision or action. In particular, actual results and developments may be materially different from any forecast, forward-looking statement, opinion or expectation expressed on this website.
None of the information contained on the following pages nor any copy thereof may be taken or transmitted in or into the United States or distributed, directly or indirectly, in or into the United States. Persons present in the United States of America are not permitted to access this section of the website and should exit it immediately.
By clicking the "SUBMIT" button below you (i) certify that you are not located in the United States or a US Person located outside of the United States, Canada, Australia, New Zealand, Japan or the Republic of South Africa or in any EU Member State (other than any EU Member State where the Company’s shares are legally marketed) or third country where an offer of the securities to the public does not take place and (ii) acknowledge that you have read and understood and agree to the notices and disclaimers set forth above.
Share Price (US$)
$0.39
Latest Quarterly NAV
$0.6503
Premium/Discount
-50.86%
Dividends declared year to date
0.7¢
