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Wind farm investor The Renewable Infrastructure Group (TRIG) reported NAV total return for the first half of 2021 was 2% and has reiterated dividend guidance for the full year.
The group announced that NAV as at 30 June 2021 was 114.3p per share, down by 0.9% since 31 December 2020.
TRIG's NAV total return from IPO to 30 June 2021 was 7.9%, including dividends paid.
It also reaffirmed its 6.76p dividend target for the year to December 2021, following a 'resilient set of results', according to TRIG chairman Helen Mahy.
Investment manager InfraRed Capital Partners director, infrastructure, Richard Crawford said: 'In the first six months of the year, high power prices and active portfolio management have helped to reduce the impact of lower wind levels in the period, and regulatory and taxation changes.
'Renewables remains a highly attractive asset class. Our disciplined approach to portfolio construction, focus on value enhancement and responsible investment practises continue to serve the company well as we further diversify TRIG's portfolio.'
TRIG reported that it invested £341 million in the first half of 2021, and raised equity capital of £240 million.