The Renewables Infrastructure Group (TRIG) has booked a pre-tax profit of £17m for last year, down from £23.3m in 2014.
TRIG said the decrease in profits was mainly as a result of the UK Government’s decision to scrap the Climate Change Levy exemption in its summer budget last year.
The company said it now has 690MW of generating capacity in onshore wind and solar PV, up over 50% on its 2014 portfolio after a series of investments.
At the end of last year, its portfolio was valued at £712.3m.
Company chair Helen Mahy said: “2015 has been a dynamic year for TRIG. Generation has been strong and the company has shown resilience in the face of twin challenges posed by further weakening in power prices and UK government changes to renewables incentives.
“TRIG has significantly increased the scale and diversification of its portfolio and in December became the first renewables investment company to be included in the FTSE 250 Index. As a market leader in both portfolio scale and diversification, TRIG is well-positioned for 2016 and beyond.”
The company also said today that it has raised equity capital of £316m, before costs, and has a pipeline of “further attractive investment opportunities”.
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