RNEP Ecofin U.s. Renewables Infrastructure Trust Plc

TIDMRNEW

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) 
  Edward Russell 
  Eileen Fargis 
  Jason Benson 
  Michael Hart                                   +1 913 981 1020 
 Peel Hunt LLP (Joint Corporate Broker) 
  Liz Yong 
  Luke Simpson 
  Huw Jeremy                                    +44 20 7418 8900 
 Stifel (Joint Corporate Broker) 
  Edward Gibson-Watt 
  Rajpal Padam 
  Madison Kominski                              +44 20 7710 7600 
 Apex Listed Companies Services (UK) Limited 
  (Company Secretary) 
  Martin Darragh 
  Maria Matheou                                 +44 20 3327 9720 
 FTI Consulting (Financial PR) 
  Matthew O'Keeffe 
  Mitch Barltrop 
  Vee Montebello                                 +44 7976 075797 
 

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

The Company's LEI is 2138004JUQUL9VKQWD21.

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