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The Renewables Infrastructure Group : TRIG – results

The Renewables Infrastructure Group has released its first set of results covering the period from 29 July to 31 December 2013.

The £310m it raised was spent on acquiring 20 wind and solar projects. The net asset value return for the period was 3.5%. Distributions have been in line with projections and the Board says it “is satisfied, that the target distributions” kicking off with 6.0p annualised figure, and “growing with inflation over the medium term, together with upside NAV potential from the reinvestment of surplus cash flows (after payment of dividends), remain achievable.

The portfolio produced 344.6 gigawatt hours of electricity, 5.3% more than the projection at the time of the IPO with the bulk of the excess generated from UK based wind farms as strong wind conditions more than offset lower solar production.

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