The Renewables Infrastructure Group (TRIG) net asset value (NAV) increased over 3% in 2021, driven by high power prices, increased inflation and active portfolio management.
NAV per ordinary share was 119.3 pence as of 31 December 2021, compared with 115.3 pence in 2020.
NAV total return was 9.5% for the year.
TRIG’s portfolio generated 4125 gigawatt-hours of electricity in the year, up from 3953GWh the previous year.
TRIG chair Helen Mahy said: “Active portfolio management by InfraRed and RES has delivered robust financial performance from TRIG in a year characterised by the ongoing Covid-19 pandemic, volatile commodity markets and the lowest wind resource in the Company’s history.
“As the company approaches the ninth anniversary of its IPO, we have progressed the Board’s succession planning with the appointments of Erna-Maria Trixl and John Whittle.
“Shelagh Mason will be retiring from the TRIG Board at the end of February 2022 – on behalf of my fellow Directors, I thank her for her service to the company.
“As the Board goes through this transition, my fellow Directors and I are grateful for another year of strong support from of TRIG’s shareholders as they continue to support the company’s diversification strategy.
“The decarbonisation agenda remains central to public policy across Europe. Renewables play an essential role in providing affordable and clean electricity. This backdrop continues to ensure a bright outlook for the company.”