The Renewables Infrastru... Share Discussion Threads

[wad collector] 28/9/2022 07:34

Hard to see that this is not a resilient sector to whatever happens next in the Markets. Whatever the short term political pressures and decisions, the World has to go down the Renewable energy route. Whether this is the best vehicle is another question, but somewhere to gamble some of my portfolio. Just added at 127p.

[tuftymatt] 26/9/2022 20:08

Don't sell just buy the dip if you can or hold.
Markets are in a tail spin right now so hang on and remember this is a long game.

[davr0s] 26/9/2022 18:23

Or calm down - seem to seeing the same hysteria on other threads

[voci] 26/9/2022 17:27

TRIG down over 5% today!

The whole renewables sector has been smashed today.

Buy the dip?
Sell out to avoid further losses?
Hang in there and keep on collecting the quarterly dividend?

[makinbuks] 09/9/2022 17:45

Great comment, what drives the lead time?

[mrcontrarian1] 08/9/2022 09:27

Yep, good news they are diversifying even more. My surprise is how long the lead times are on these battery projects! Thought it would be much quicker, but what do I know…

[tuftymatt] 08/9/2022 08:59

Very good and hopefully this can challenge 150p again very soon.

[davebowler] 08/9/2022 08:56

Liberum;
Renewable Infrastructure Group

Battery storage investment

Mkt Cap £3,510m | Share price 141.60p | Prem/(disc) 5.8% | Div yield 4.8%

Event

Renewable Infrastructure Group (TRIG) acquired the right to develop three battery storage sites in the North of England. The first two projects are scheduled for grid connection in 2024 and 2025 and will have a capacity of 165MW with a two-hour duration. The third site (85MW) will be built later and is expected to be connected in 2029, possibly earlier. Once the first two sites are built and connected to the grid (2025), they will represent an estimated 4% of the portfolio by value. The sites each have land rights, planning permission and grid connection agreements secured. While energy storage is a relatively new investment for TRIG, the managers (InfraRed and RES) have extensive knowledge, in the sector going back over a decade. The managers also are mindful of the sustainability challenges, particularly in the supply chain of battery materials and these considerations will be reflected in the procurement framework.

Liberum view

This investment is a key milestone as it follows through on the strategy laid out at the CMD in April. Currently, battery storage accounts for only 0.4% of the portfolio, but will grow tenfold based on this investment. As renewable energy becomes a more important part of the electricity grid flexible capacity is increasingly needed to smooth intraday variability in the availability of renewable energy. We believe that in the foreseeable future flexible capacity installations have higher operating margins because there is chronic underinvestment in the sector so far. Furthermore, revenues from energy storage tend to have a low correlation with wholesale power prices received by renewables generators. The projects developed by TRIG also have the added advantage of having a two-hour duration, which is at the longer end of such projects and allows TRIG to extend its trading options in the wholesale market

Investors also seem to place a larger premium on energy storage as evidenced by the premia to NAV of the two oldest pure-play energy storage investments in the market, which trade at an average premium of 20.6% compared to the 5.8% premium for TRIG and 1.6% premium to NAV for renewable energy infrastructure ex energy storage overall.

[tuftymatt] 05/8/2022 12:13

Yeah based on this mornings figures, it's looking good.

H1 2022 Key Highlights

- 134.2p Net Asset Value (NAV) per share(1) , increased by 12.5% since 31 Dec 2021 (119.3p)
- GBP3,236m Directors' portfolio valuation(2) , up 18.7% since 31 Dec 2021 (GBP2,726m)
- 6.84p dividend target reaffirmed for the year to December 2022 (2021: 6.76p)
- 1.39x dividend cover(3) for the six months to 30 June 2022 (H1 2021: 1.28x)
- GBP442m invested year to date (H1 2021: GBP341m)
- 17.9p earnings per share (H1 2021: 1.8p)

[panshanger1] 05/8/2022 12:09

Impressive move higher here in recent days

[tuftymatt] 28/7/2022 07:13

Very nice.

[gateside] 28/7/2022 07:06

The Company announces that it expects its Net Asset Value as of 30 June 2022 to be 134.2 pence per share (unaudited). The last audited Net Asset Value was 119.3p per share as at 31 December 2021. The valuation uplift in the first six months of the year is predominately due to high inflation and a significant increase in power price forecasts. No change has been made to benchmark discount rates applied in the valuation with demand for assets in the renewables sector remaining resilient.

[topvest] 24/5/2022 14:13

2/3rd of their revenues are Renewable Obligation Certificates which are inflation linked, so won't be impacted...unless the Government wants to end green investment. They could introduce a levy of some kind on power prices for the remaining 1/3rd. With a 25% tax rate also hitting from April 2023 seems a bit draconian.

[andyadvfn1] 24/5/2022 08:40

Politicians just being politicians, windfall tax talk bandwagon / flavour of the month. How much extra tax could they get from TRIG... not so much. Markets are no better, bah, bah, good opportunities always around just keep an eye on the sheep.

[melody9999] 24/5/2022 08:27

if energy companies didn't reinvest profits....

TRIG have been re-investing faster than most.

[apollocreed1] 24/5/2022 08:25

This guy is the biggest socialist in the whole party. But none of the current government are conservative anymore. They are even planning to put the windfall tax on renewable companies running wind farms.
Even the Dems in the US haven't instituted a windfall tax.
They just take orders from their wives and the media:

"UK finance minister Sunak orders plan for windfall tax on electricity generators -FT"

hxxps://uk.investing.com/news/commodities-news/uk-finance-minister-sunak-orders-plan-for-windfall-tax-on-electricity-generators--ft-2654885

[muscletrade] 24/5/2022 08:17

Don't disagree that it seems madness. That doesn't mean it will not happen though. SSE being slammed at over 9% off at the moment.
Uncertainty could last a couple of weeks if the FT report is accurate.

[tuftymatt] 24/5/2022 07:57

I think when it comes to the detail behind any windfall tax most in this sector will be hit in a very small way if at all.

Buying opportunity imo and a reaction by the markets to the unknown.

[davr0s] 24/5/2022 07:55

Seems madness to extend this to the green sector. So we get a green levy on our bills to grow this sector and then it gets taxed via a windfall levy. I do wonder if this will actually happen

[andyadvfn1] 04/5/2022 15:02

Possible divi announcement tomorrowWith xd on the 12th?

[tuftymatt] 03/5/2022 07:42

I am in today at 135p.
See this as a fairly safe hold for a decent divi and a bit of share price upside too each year. The right sector too long term as we have to sort this planet of ours out once we stop fighting each other don't we!!

[gateside] 31/3/2022 12:50

And the dividend was paid today :-)

[gateside] 31/3/2022 12:49

TRIG has acquired a 49% equity interest in Project Valdesolar, an operating solar park in the province of Badajoz, Spain.

Valdesolar represents approximately 3% of TRIG's portfolio, by value. Together with the Cadiz solar projects, this acquisition further enhances TRIG's technological and geographical diversification. Following this acquisition, Spain represents 8% and solar PV 15% of the Company's portfolio.

Valdesolar, which has a total capacity of 264MW, has been operational since December 2021. The Project generates enough clean energy to power the equivalent of 140,000 homes.

[mrcontrarian1] 24/3/2022 15:12

@cc2014. This sort of fund raise was never AJ Bell or HL’s business in first place. Traditionally accelerated book builds / equity taps were only offered to institutional shareholders and excluded retail / private investors and therefore not available on the likes of AJ or HL. PrimaryBid is just eating into what the institutional investors are offered, which I think is a good thing.
For a traditional rights issue this is available via HL / AJ Bell as a corporate action, it’s just the company (TRIG) finds it cheaper, quicker and easier to raise cash this way.
But at 132p for new shares issued, think existing shareholders who have not taken part in new share issue are getting a good deal as well above NAV