Ecofin US Renewables acquires risk in 107.8-MW The golden state solar portfolio

• Ecofin United States Renewables Facilities Trust PLC (LON: RNEW) claimed today it has actually finalised the purchase of a 49.5% cash money equity interest in a 107.8-MW portfolio of utility-scale solar projects in California.

Adhering to the current deal worth USD 24.5 million (EUR 20.4 m), the investment company, incorporated in England as well as Wales, has closed the purchase of all four seed financial investments consisted of in its initial public offering (IPO) possibility. As of February 4, 2021, the company has actually invested around 50% of the net proceeds increased in the IPO, it claimed.

The current additions to Ecofin's portfolio are two solar parks in operation in The golden state's Kern County. Their result is bought by an investment-grade energy under a contract with a weighted ordinary staying regard to 22 years.

"The pipeline of opportunities capable of being transacted within the following 6 months has expanded from the degrees provided in the Prospectus and Ecofin is proactively working with a picked number of investments that it wants to offer a conclusion shortly," commented taking care of director Jerry Polacek. At the time of its USD-250-million IPO in November, Ecofin said it planned to acquire operational and also under-construction solar parks in the United States for regarding USD 61 million, while it had actually likewise determined a more 124-project pipeline with a consolidated equity worth of USD 4.6 billion.