UK's Renewables Infrastructure Group H1 NAV per share falls on lower third-party price forecasts

Renewables Infrastructure

07/08/2026 07:24

Overview
UK renewable energy investor's H1 NAV per share fell to 101.1p from 104.0p
Net dividend cover for H1 2026 restored to 1.1x, in line with long-term target
Company agreed to sell Beatrice wind farm stake for c. £155 mln; share buybacks ongoing

Outlook
Company reaffirms 2026 dividend target of 7.55p per share
TRIG targets £400 mln capital realisation by May 2027, mainly via asset disposals
Company expects to continue share buybacks beyond current £150 mln programme, subject to asset sales

Result Drivers
LOWER REVENUE FORECASTS - NAV per share decline was mainly due to reduced third-party revenue price forecasts for power prices and green certificate income
VALUE ENHANCEMENT INITIATIVES - Operational cash generation and portfolio value benefited from revenue management and technical upgrades
ASSET DISPOSALS - Progress on capital realisation target with agreement to sell Beatrice wind farm stake for c. £155 mln

Company press release: ID:nRSG6700Pa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Net Asset Value Per Share
 
GBP 1.01
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the closed end funds peer group is "buy"
Wall Street's median 12-month price target for Renewables Infrastructure Group Ltd is GBp88.00, about 14.3% above its August 6 closing price of GBp77.00
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
Aug 5 - Clearway Energy Q2 adjusted EBITDA rises, cuts 2026 CAFD forecast
Aug 4 - Israel's Enlight Renewable Energy Q2 net income rises
Aug 4 - EU opens probe into Spain payment to Japan's JGC in case over renewable subsidies

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)