The Renewables Infrastructure Group posted a profit of £67.9m in 2016, up from £17m in 2015, according to its preliminary results.
The company said the increase reflected an “uplift in portfolio valuation”, with the 2015 figure reduced by a £20.2m one-off “adverse valuation impact” of the withdrawal of levy exemption certificate income in that year’s UK summer budget.
TRIG said the portfolio generation capacity increased by 8% to 710MW with a total of 53 investments in the UK, Ireland and France.
It added that the company also has a pipeline of “further attractive investment opportunities under consideration across multiple technologies and markets”.
TRIG chairman Helen Mahy said: “I’m pleased to report that TRIG’s portfolio has continued to perform well despite the wider challenging market and weather conditions.”
Image: Morgue File
