Renewables Infrastructure Group delivers first-half "progress"
Renewables Infrastructure Group Ltd on Friday reported results for the first half of 2026, standing by its full-year dividend target.
The renewable energy-focused investment company's net asset value per share was 101.1 pence as of June 30, down from 104.0p at December 31. It said the change was "driven primarily by a mechanical flow through of a reduction in third-party revenue price forecasts."
Shares in Renewables Infrastructure, also known as TRIG, were down 0.1% at 76.90p late on Friday morning in London.
The firm highlighted depressed medium-term gas and electricity price forecasts, and "a reduction in the expected price captured by existing renewables generators" as build-out increases in Germany and Spain. Also, it said revenue projections from UK and European "green certificates" continue to decrease as growing supply meets "muted" demand.
Renewables Infrastructure's operational cash flow totalled £209 million for the first half, with distributable cash flow of £99 million, up from £93 million the year before.
The company also reaffirmed its dividend target of 7.55p per share for 2026.
"The Renewables Infrastructure Group's strategy is focused on offering shareholders a compelling total return proposition underpinned by resilient income," commented Chair Richard Morse. "Our H1 2026 underlying portfolio performance demonstrates progress against this.
"Looking ahead, I am confident that we will maintain this strategic momentum through active management of our diversified portfolio, disciplined capital allocation and by reinvesting into higher-returning proprietary opportunities that are funded through retained cash, debt capacity and portfolio rotation."
Morse added: "The relevance of the energy transition has never been greater with macroeconomic events and the growing adoption of energy-intensive technologies, including AI, increasing demand for secure and domestically generated electricity across the UK and Europe.
"Renewables and batteries remain central to this shift, reflected in the policies of governments and strategies of corporates."
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