Ecofin US Renewables Wind Farm Temporarily Ceases Operations After Tornado
26 Junho 2023 - 5:58AM
Dow Jones News
By Joe Hoppe
Ecofin U.S. Renewables Infrastructure Trust said Monday that
following a recent tornado in Texas its Whirlwind Energy wind farm
in Floydada has temporarily ceased operations.
The London-listed sustainability-focused investment trust said
that Whirlwind--a 59.8 megawatt site that represents 38% of the
company's net asset value as of March 31--ceased operations last
Wednesday after the tornado damaged five project-owned transmission
poles.
The American Electric Power owned substation in neighboring
Matador, through which the project transmits energy, was severely
damaged and as a result Whirlwind will be unable to resume
operations until the substation is rebuilt.
Given the outage, the company has declared a force majeure event
with Whirlwind's offtaker Austin Energy.
Ecofin said it is working closely with asset and operations
managers to put in place a plan and expected timetable to remedy
the outage, along with its insurance provider to file claims where
applicable for business interruption and necessary repairs.
Shares at 0814 GMT were down 0.04 pence, or 5.8%, at 0.65
pence.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
June 26, 2023 04:43 ET (08:43 GMT)
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