Less Ads, More Data, More Tools Register for FREE

Pin to quick picksEcofin U.s. $ Regulatory News (RNEW)

Share Price Information for Ecofin U.s. $ (RNEW)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.525
Bid: 0.50
Ask: 0.55
Change: 0.00 (0.00%)
Spread: 0.05 (10.00%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 0.525
RNEW Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Appointment of Managing Director and Group Lead

24 Oct 2022 07:00

RNS Number : 7798D
Ecofin US Renewables Infrastr.Trust
24 October 2022
 

 24 October 2022

 

ECOFIN U.S. RENEWABLES INFRASTRUCTURE TRUST PLC

 

Appointment of Managing Director and Group Lead

 

The Board of Ecofin U.S. Renewables Infrastructure Trust PLC (the "Company" or "RNEW") is pleased to announce that the Company's Investment Manager, Ecofin Advisors, LLC ("Ecofin") has appointed Eileen Fargis as the Ecofin group lead and portfolio manager for RNEW, effective today. Eileen's appointment follows a competitive recruitment process led by Ecofin.

 

In her role as Managing Director - Private Equity Sustainable Infrastructure, Eileen will work closely with the team of experienced professionals at Ecofin, including Ed Russell, Senior Managing Director and Jason Benson, Director of Private Renewable Energy, who have been ultimately responsible for the asset management and project controllership of RNEW's high quality portfolio of 62 U.S. solar and wind assets, spread across seven states with a total capacity of 162 MW.

 

Eileen has over 20 years' industry experience, most recently as Head of Investments for InterEnergy Holdings (UK) Ltd, an independent developer, owner, and operator of 2.1 GW of energy generation assets and a utility in the Caribbean and Latin America. Eileen is the former Co-Head of the $1 billion IFC African, Latin American and Caribbean Fund LP, a private equity fund investing on behalf of the International Finance Corporation.

 

Eileen started her career in energy and infrastructure with Skadden Arps and spent nine years at GE Capital Markets, GE Energy Financial Services and GE Structured Finance with a focus on global renewable energy and infrastructure assets. Eileen has previously served on the boards of InterEnergy Holdings, CityExpress Hotels and SURA Asset Management. Eileen is a graduate of Hamilton College and the John Hopkins School of Advanced International Studies.

 

Brent Newcomb, President of Ecofin, commented: "We are thrilled to welcome Eileen to Ecofin. She will make an immediate impact on our team and the Company given her leadership and experience in the private sustainable infrastructure space. She brings expertise across all aspects of project finance along with a strong network in the power generation industry."

 

Eileen Fargis, Managing Director, said: "I'm delighted to join the RNEW team as we provide this compelling investment product to investors. RNEW's investment strategy is well positioned to benefit from the positive sectoral backdrop, driven by multi-year U.S. policy tailwinds supporting renewables. The passage of the Inflation Reduction Act ("IRA") in August 2022 represents an unprecedented long-term policy boost for U.S. renewable energy with approximately $369 billion allocated towards climate infrastructure and energy security. The IRA includes provisions for extending tax credits for solar and wind through 2035 and introduces a new tax credit for standalone battery storage, which provides strong alignment with RNEW's investment strategy."

 

Eileen's appointment strengthens the existing experienced senior management and asset management teams within Ecofin, who have ensured a smooth transition to new leadership. The team continues to focus on bringing a differentiated investment strategy to market, focused on U.S. middle market renewable energy assets. The Company is fully invested with an attractive, long-term U.S. dollar denominated income stream from 100% contracted revenues and the U.S. renewable market continues to have a promising growth outlook with historic unified government support to achieve the 2035 carbon-free U.S. power sector goal.

 

Patrick O'D Bourke, Chair of RNEW, said: "Eileen's appointment comes at an important time for RNEW and the U.S. renewables sector, as policy stimulus only strengthens the long-term investment case in U.S. wind, solar and battery storage. The Board is pleased with the high quality of RNEW's portfolio and its stable and growing dividend performance to date, resulting from the Investment Manager's active management of our 62 assets. The focus on investment stewardship will continue and we look forward to a strong relationship with Eileen and her team to maintain RNEW's commitment to delivering attractive risk-adjusted returns and a sustainable dividend to our shareholders."

 

 

For further information, please contact:

 

Ecofin Advisors, LLC (Investment Manager)

Michael Hart

Brad Adams

Brent Newcomb

 

+44 20 7451 3023

 

 

 

Peel Hunt LLP (Joint Corporate Broker)

Liz Yong

Luke Simpson

Huw Jeremy

 

 

+44 20 7418 8900

 

Stifel (Joint Corporate Broker)

Mark Bloomfield

Alex Miller

Madison Kominski

+44 20 7710 7600

Sanne Fund Services (UK) Limited (Company Secretary)

Martin Darragh

Maria Matheou

+44 20 3327 9720

FTI Consulting (Communications)

Matthew O'Keeffe

Mitch Barltrop

Vee Montebello

+44 7976 075 797

 

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.

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCZZMZGVMVGZZM
Date   Source Headline
17th Jun 20247:00 amRNSQ1 2024 Net Asset Value
17th Jun 20247:00 amRNSDividend Declaration
13th Jun 20245:44 pmRNSAGM Results
14th May 20249:16 amRNSHolding(s) in Company
29th Apr 20247:00 amRNSFinal Results
24th Apr 20243:47 pmRNSHolding(s) in Company
15th Apr 20242:23 pmRNSDirector/PDMR Shareholding
26th Mar 202410:45 amRNSHolding(s) in Company
25th Mar 20243:39 pmRNSHolding(s) in Company
28th Feb 20247:00 amRNSExchange rate for the interim dividend
15th Feb 20244:56 pmRNSHolding(s) in Company
13th Feb 20244:54 pmRNSDividend Declaration
13th Feb 20244:39 pmRNSQ4 2023 Net Asset Value
7th Feb 202410:50 amRNSHolding(s) in Company
1st Feb 20245:19 pmRNSHolding(s) in Company
18th Dec 20235:02 pmRNSHolding(s) in Company
13th Dec 202311:02 amRNSHolding(s) in Company
12th Dec 20233:30 pmRNSDirector/PDMR Shareholding
7th Dec 20237:00 amRNSOperational Update
15th Nov 202312:42 pmRNSExchange Rate Announcement
2nd Nov 202310:09 amRNSDividend Declaration
2nd Nov 202310:07 amRNSNet Asset Value(s)
18th Sep 202311:04 amRNSDirector/PDMR Shareholding
15th Sep 202312:26 pmRNSHolding(s) in Company - released in error
14th Sep 20237:00 amRNSHalf-year Report
13th Sep 20234:04 pmRNSDirector/PDMR Shareholding
12th Sep 20239:31 amRNSUpdate from QuotedData
8th Sep 20231:32 pmRNSHolding(s) in Company
8th Sep 20237:00 amRNSStrategic Review
23rd Aug 20231:51 pmRNSReplacement - Exchange Rate Announcement
22nd Aug 20234:53 pmRNSExchange Rate Announcement
7th Aug 20237:00 amRNSDividend Declaration
7th Aug 20237:00 amRNSNet Asset Value(s)
27th Jul 20237:00 amRNSWhirlwind Update
17th Jul 20235:47 pmRNSDirector/PDMR Shareholding
29th Jun 20237:00 amRNSOperational Update
27th Jun 20239:11 amRNSAmendment & Extension to Revolving Credit Facility
26th Jun 20237:00 amRNSWhirlwind Update
15th Jun 20235:01 pmRNSDirector/PDMR Shareholding
1st Jun 20234:33 pmRNSResult of AGM
22nd May 20237:00 amRNSDividend Exchange Rate Announcement
11th May 20237:00 amRNSPurchase of Management Fee Shares
10th May 20237:00 amRNSDividend Declaration
10th May 20237:00 amRNSNet Asset Value(s)
14th Apr 20237:00 amRNSFinal Results
3rd Apr 202312:59 pmRNSDirector/PDMR Shareholding
14th Mar 202310:21 amRNSDirector/PDMR Shareholding
14th Feb 20237:00 amRNSExchange Rate Announcement
2nd Feb 20237:00 amRNSPurchase of Management Fee Shares
31st Jan 20235:34 pmRNSDividend Declaration

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.