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 17/07/2024:

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Share Price (US$)


Latest Quarterly NAV




Dividends declared



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.

  • Fully invested portfolio: Diversified portfolio of U.S. renewable energy assets with an attractive long-term income stream
  • Stable income: Portfolio generating 100% contracted revenues which together offer geographical diversification and opportunity for both capital growth and inflation protection
  • U.S. renewables market with promising growth outlook: $360 billion growth opportunity projected over the next decade with historic unified government support to achieve the 2035 carbon-free U.S. power sector goal

LSE Green Economy MarkProud to be awarded the London Stock Exchange Green Economy Mark

Ecofin 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.

Investment Manager

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”). Ecofin Investments, LLC is the parent of registered investment advisers Ecofin Advisors, LLC and Ecofin Advisors Limited (collectively “Ecofin”) with operations in the U.S. and London. Ecofin is a sustainable investment firm dedicated to uniting ecology and finance. Ecofin’s mission is to generate strong risk-adjusted returns while optimising investors’ impact on society and aligning with UN Sustainable Development Goals. Ecofin’s teams are sociallyinded, ESG-attentive investors, harnessing years of expertise investing in sustainable infrastructure, energy transition, clean water & environment and social impact.

Latest Announcements

Financial Calendar

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


IPO proceeds committed
as of 31 December 2021

Investment Name



Capacity (MW)1


Number of assets


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 19.0 PPA with utility Feb-21
Beacon Solar 5 Utility Solar California 23.9 49.50% 1 Operating 2017 19.0 PPA with utility Feb-21
SED Solar Portfolio Commercial Solar Massachusetts, Connecticut 11.3 100% 52 Operating 2012-2019 12.6 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 17.5 FIT with utility Dec-20
Oliver Solar Commercial Solar California 4.8 100% 1 Operating 2021 11.9 PPA with commercial offtaker Dec-20
Skillman Solar Commercial Solar New Jersey 2.6 100% 1 Operating Q3 2022 13.6 FIT with state power agency; commercial offtaker Sep-21
Delran Solar Commercial Solar New Jersey 2.0 100% 1 Operating 2020 11.5 FIT with state power agency; commercial offtaker Oct-21
Whirlwind Energy Wind Texas 59.8 100% 1 Operating 2007 4.0 PPA with utility Oct-21
Echo Solar Utility Solar Minnesota 36.0 100% 6 Construction 2022-2023E 24.4 PPA with utility Jul-21












As of 31 December 2023
E = Estimate
1. Capacity reflects RNEW’s proportionate ownership interest in the assets
2. Cash equity ownership

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 17/07/2024

Share Price (US$)


Share Price Change Percentage


Latest Quarterly NAV 1




  1. as of 17/07/2024

Share Price

(as of 17/07/2024)

RNEP (GBP) price information is available via London Stock Exchange

Dividend History

  1. Represents US$ cents per ordinary share

Shareholders have the option to receive dividends in US$ or GBP

Latest Announcements

Share prices and NAV information

The Company’s ordinary shares are traded on the London Stock Exchange.

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
  1. represents US$ cents per ordinary share

Board of Directors

Patrick O’D Bourke  Patrick O'D Bourke
  25 years experience

  • Significant investment experience in Europe, U.S. and Australia
  • Experience in energy and infrastructure, especially renewable energy
  • Served as Chairman of Audit Committee at Affinity Water and Chairman of Trustees of Viridian Group pension fund
  • Previously with Peat Marwick (now KPMG), Hill Samuel, Barclays de Zoete Wedd and Powergen
  • Cambridge University

Tammy Richards  Tammy Richards
  25 years experience

  • Expertise in risk management, structured finance and multi-sector leadership
  • Served as the Deputy Chief Credit officer of the energy finance unit, a global US$15 billion business focused on complex debt and equity investments in the energy sector
  • Held positions of European Risk Leader, Emerging Markets for the Structured Finance Group in London and Deputy Chief Risk Officer for Energy Financial Services
  • Previously a Managing Director, Credit Risk and Portfolio Analytics with GE Capital Corporation
  • Dartmouth College and Cornell University

  Louisa VincentLouisa Vincent
  30 years experience

  • Significant experience in financial services in the UK, Australia, Benelux, Nordics and the Gulf
  • Held position of Managing Director, Head of Institutions at Lazard Asset Management, and before that, Head of Client Service for SSgA
  • Chair of Fight For Sight, the UK’s leading eye research charity
  • MBA (Exec) from Australian Graduate School of Management (AGSM). Deakin University/Royal Melbourne Institute of Technology

David Fletcher  David Fletcher
  40 years experience

  • Currently Chairman of two Audit Committees, and related non executive directorships
  • Direct experience and involvement in Board Risk, Remuneration and Compliance Committees
  • Understanding of board and management dynamics and governance from membership to Exco etc
  • Held CF1 and CF2 FCA controlled functions
  • Strong understanding of corporate strategy, business development as well as acquisition and disposal of businesses
  • International dimension, having worked in Hong Kong and Japan as well as Director of a Group with operations in overseas jurisdictions
  • Broad sector experience including Asset Management, Family Office, Life Assurance, Private Equity and Corporate Advisory
  • Prior executive directorships of UK regulated Companies
  • Member of the Finance Committee of The Hurlingham Club (2013-2017) and currently a Governor of the Roehampton Church of England Primary School

Private sustainable infrastructure team & leadership

  Eileen Fargis
  Managing Director -
  Private Equity Sustainable Infrastructure

  20+ years industry experience

  • Previously  Head of Investments for InterEnergy Holdings (UK) Ltd, an independent developer, owner, operator of energy generation assets and utilities in the Caribbean and Latin America
  • Master of Arts, International Relations, Johns Hopkins School of Advanced International Studies; Bachelor of Arts, Hamilton College

  Edward Russell
  Senior Managing Director
  37 years industry experience

  • Previously, a managing director at Stifel, Nicolaus & Company, heading the energy and power group
  • Led IPO of Tortoise closed-end fund while at Stifel

Company Secretary & Registered Office

Sanne Fund Services (UK) Limited

125 London Wall

  • Investment Manager

    Ecofin Advisors, LLC

    6363 College Boulevard
    Suite 100A
    Overland Park, KS 66211

  • Administrator

    Sanne Fund Services (UK) Limited

    125 London Wall
    EC2Y 5AS

  • Broker

    Stifel Nicolaus Europe Limited

    150 Cheapside
    London EC2V 6ET

  • Legal advisers to the Company

    Norton Rose Fulbright LLP

    3 More London Riverside
    SE1 2AQ

  • Auditor


    55 Baker Street
    W1U 7EU

  • Registrar

    Computershare Investor Services PLC

    The Pavilions, Bridgwater Road, Bristol
    BS99 6ZZ, United Kingdom
    Telephone for enquiries: +44 (0)370 703 6234

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

Portfolio Impact Stats

Tonnes of CO2e Reduction


Households supplied

Litres of water savings


Olympic size pools

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:

This strategy seeks to achieve positive impacts that align with the following UN Sustainable Development Goals