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The Renewable Inrastructure Group (TRIG)

Closed-end funds and OEICs
Dod101
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Re: The Renewable Inrastructure Group (TRIG)

#345287

Postby Dod101 » October 5th, 2020, 10:15 am

The premium to NAV is interesting as is how the NAV is calculated. I read the Annual Report and it is all there as simoan has indicated. I agree that an independent valuer would be better than the company itself doing the calculation. For instance, at a stroke, they extended the lives of assets by a year recently and thereby increased the value of the assets. Setting accurate (or at least as accurate as they can be) parameters is vital and the Directors have a clear conflict of interest in setting that valuation themselves.

Irrespective of the so called methodology, the NAV needs to reflect the price the assets would fetch in an open sale, or should that be the cost of replacement, or even the cost of construction? The accounting/auditing profession has got itself in a real pickle with the obsession with current value accounting . In the old days, I guess the carrying value of the assets would have been the cost of construction, maybe with a side note to give some indication of current value, but nowadays it is more or less what the Directors want it to be (although they would say that it reflects their estimate of current value)

I think though that for this sort of company the sustainable yield is what most investors will be interested in. What we need to remember is that there is no instantly measurable 'value' unlike say with an IT invested in quoted shares. With such a high premium to NAV, it can be seen that the market is assigning a much higher value to the assets than the directors and thus some could argue that the directors' valuation is too low!

Dod

jackdaww
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Re: The Renewable Inrastructure Group (TRIG)

#345353

Postby jackdaww » October 5th, 2020, 1:12 pm

very interesting topic.

and i have seen enough and sold all my renewables today at break even .

another step to shaking off my pernicious high yield mistakes.

:)

Urbandreamer
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Re: The Renewable Inrastructure Group (TRIG)

#345375

Postby Urbandreamer » October 5th, 2020, 2:27 pm

I first started building my stake in TRIG a year ago.

One year is too short a period to really get a feel for growth, but my XIRR is reported as over 5%. The 5 year share price graph looks fairly good too. I'll accept that the main reason to even consider buying a share like this is income that we hope tracks inflation, however I'm not convinced that we won't at least see share price growth at respectable rates.

It all depends upon the future of the renewable sector and TRIG's managment.

There is a requirement for energy suppliers to source a certain amount of power from renewable sources. A number of companies have been fined for failing to do so.
https://eandt.theiet.org/content/articl ... e-targets/

That said, they don't have to buy it from TRIG and I'm sure that we all know of companies that have folded due to cash flow issues.

MaraMan
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Re: The Renewable Inrastructure Group (TRIG)

#345933

Postby MaraMan » October 7th, 2020, 3:20 pm

The Times today, in its Tempus column, talks about TRIG and still advises it readers to buy. This recommendation started back in May, since when the SP has risen by 14.2%, and continues still. They say that investors have tended to view TRIG as a safe haven investment during the pandemic because almost three quarters of it's revenues are locked in for five years or more. The Govt's pushing of wind farms and resulting new projects should give TRIG a wider array of investments to choose from, but of course this depends on wholesale energy prices not falling. TRIG currently has 74 investments, including 45 wind farms and 28 solar power operators, in ireland, France, Sweden, Germany and of course Britain.

MM

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Re: The Renewable Inrastructure Group (TRIG)

#345950

Postby UncleEbenezer » October 7th, 2020, 4:31 pm

MaraMan wrote:The Times today, in its Tempus column, talks about TRIG and still advises it readers to buy.
MM

For some kinds of stock I'd look to evaluate that as a possible Sell signal.

In TRIG's case I won't. It's about as secure an income stream as exists in today's market, and while a capital correction is by no means unlikely, it's extremely unlikely to happen on the scale of, say, a Growth investment.

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Re: The Renewable Inrastructure Group (TRIG)

#346465

Postby richfool » October 9th, 2020, 2:12 pm

I thought this might be of interest to those interested in renewables like TRIG and JLEN:

Should you ditch energy giants as the age of oil ends and swap to investments that look to green energy instead?

There has been talk of the demise of oil and gas for decades. But you know that things are getting serious when even the boss of oil giant BP, Bernard Looney, warns that demand for oil may peak in the next few years and then decline.

The so-called energy transition from fossil fuels to renewables is gaining momentum.

And Looney's comments are among a series of indicators in recent days that suggest it could play out sooner than previously thought.

https://www.thisismoney.co.uk/money/inv ... -ends.html

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Re: The Renewable Inrastructure Group (TRIG)

#353553

Postby richfool » November 4th, 2020, 10:06 pm

This might be of interest, - Gravis Clean Energy, - an alternative investment that targets the same sector. It's holdings include: TRIG, JLEN and NESF:
Gravis Clean Energy: March crash shows need to go global
By Jeremy Gordon 17 Aug, 2020
March’s coronavirus crash has highlighted how divergent opportunities in renewable energy can be in different parts of the world, according to Gravis fund manager Will Argent.
His Clean Energy Income fund, launched in December 2017, has more than doubled in size this year from £51m at the end of December to around £120m on 11 August, as investor demand for sustainable investing has spiked.

https://citywire.co.uk/funds-insider/ne ... l/a1390718

richfool
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Re: The Renewable Inrastructure Group (TRIG)

#353681

Postby richfool » November 5th, 2020, 10:10 am

ReallyVeryFoolish wrote:
richfool wrote:This might be of interest, - Gravis Clean Energy, - an alternative investment that targets the same sector. It's holdings include: TRIG, JLEN and NESF:
Gravis Clean Energy: March crash shows need to go global
By Jeremy Gordon 17 Aug, 2020
March’s coronavirus crash has highlighted how divergent opportunities in renewable energy can be in different parts of the world, according to Gravis fund manager Will Argent.
His Clean Energy Income fund, launched in December 2017, has more than doubled in size this year from £51m at the end of December to around £120m on 11 August, as investor demand for sustainable investing has spiked.

https://citywire.co.uk/funds-insider/ne ... l/a1390718

Thanks, I pointed this fund out a few weeks ago without much interest. I think it isn't really the kind of fund that TLFers typically like and I understand why. But I still rather like it, though I haven't bought it just yet.

RVF

Yes, agreed. I don't hold OIEC's/funds, preferring to hold IT's for their ease of trading, amongst other factors. One of the reasons I looked at the article and at Gravis Clean Energy, was to see what companies they invest in. It was reassuring to note that Gravis Clean Energy hold JLEN and TRIG, both of which I hold, though I did recently reduce my holdings of both.

I bought into IEM a few weeks ago and most recently bought some BERI.

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Re: The Renewable Inrastructure Group (TRIG)

#355586

Postby richfool » November 11th, 2020, 4:03 pm

For those interested, TRIG has acquired an Offshore Wind Farm in East Anglia:
The Board of TRIG is pleased to announce that the Company has exchanged contracts to acquire a 14.3% indirect equity interest in East Anglia One, a 714MW newly constructed operational offshore wind farm located off the coast of Suffolk in the North Sea ("the Project"), from Green Investment Group ("GIG"). The investment has been made in a 50% interest in the holding company through which GIG's initial investment was made (the "Holding Company"). The investment is subject to a consent from The Crown Estate and is expected to complete by Q1 2021. Following completion of the transaction, offshore wind investments are expected to represent approximately 29% of TRIG's portfolio.

TRIG has partnered with InfraRed European Infrastructure Income Fund 4 ("IREIIF4") for the transaction, a fund managed by InfraRed, which will acquire a 5.7% indirect equity interest in the project alongside TRIG. This is consistent with TRIG's strategy of partnering with aligned co-investors on larger transactions. TRIG's investment will be financed from a combination of its existing cash balance and a drawdown from the Group's revolving acquisition facility.

https://www.investegate.co.uk/renew-inf ... 00029057E/

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Re: The Renewable Inrastructure Group (TRIG)

#432984

Postby richfool » August 6th, 2021, 6:16 pm

The Renewables Infrastructure Group Limited
("TRIG" or the "Company" and together with the holding company subsidiaries, the "Group")

Publication of Supplementary Prospectus

The Board of Directors of TRIG announces the publication today of a supplementary prospectus dated 6 August 2021 (the "Supplementary Prospectus") supplementing the prospectus published by the Company on 5 March 2021 in relation to a Share Issuance Programme of up to 600 million New Ordinary Shares and/or C Shares.

The Supplementary Prospectus has been issued following the publication of the Company's interim report and accounts for the six month period ended 30 June 2021 (the "Interim Accounts"), certain information from which is incorporated by reference into the Supplementary Prospectus. The Supplementary Prospectus also updates the no significant change statement included in the original document to cover the period since 30 June 2021.

The summary, registration document and securities note published by the Company on 5 March 2021, together with the Supplementary Prospectus, comprise the Prospectus in relation to the Share Issuance Programme of up to 600 million New Ordinary Shares and/or C Shares valid until 4 March 2022, of which 405 million Shares remain available for issuance.

https://www.investegate.co.uk/renew-inf ... 14218515H/

So does that mean that we may be able to pick up more shares in the open market at a reduced price, until the new shares have been sold off?

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Re: The Renewable Inrastructure Group (TRIG)

#498663

Postby lansdown » May 5th, 2022, 2:43 pm

Dividend Declaration
RNS Number : 4822K
Renewables Infrastructure Grp (The)
05 May 2022

Interim Dividend



The Renewables Infrastructure Group Limited (the 'Company') is pleased to announce the first quarterly interim dividend in respect of the three month period to 31 March 2022 of 1.71 pence per ordinary share (the "Q1 Dividend"). The shares will go ex-dividend on 12 May 2022 and the Q1 Dividend will be paid on 30 June 2022 to shareholders on the register as at the close of business on 13 May 2022.


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