|
Ecofin US Renewables Infrastructure Trust PLC on Wednesday said it completed the disposal of a wind project in Texas to Buho Infrastructure LLC, marking the completion of another asset realisation as part of its managed wind-down. The investment trust, which is currently in a managed wind-down, focuses on the middle market of US renewable energy. Ecofin US Renewables said the net closing payment received for Whirlwind by RNEW Capital, LLC, an indirect wholly-owned subsidiary of the company, was approximately $12 million. An additional $11 million is to be held in escrow for a period of up to 11 months ‘pending the resolution of the interconnection stability curtailment issue’, the company said. Ecofin US Renewables said there is also the potential for additional payments of up to $7 million contingent on units that are repowered and placed in service by 2027 by Buho Infrastructure. Whirlwind is a 60-megawatt wind project in Texas with a carrying value of $29.9 million, according to the company’s half-year results. Ecofin US Renewables announced its managed wind-down in September last year. Its intention is to realise all assets in the firm’s portfolio in an ‘orderly manner’ to ultimately return cash to shareholders, the company said. Shares in Ecofin US Renewables were flat at $0.20 on Wednesday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
