16th Sep 2022 10:55
Ecofin US Renewables Infrastructure Trust PLC - London-based investor in US renewable energy assets - Net asset value per share declines by 1.6% to 97.3 US cents at June 30 from 98.9 at December 31. Cites supply chain issues but touts US market to have "strong prospects for ongoing investment". Its portfolio produced enough energy to supply around 32,900 households in the half-year, more than doubled from 14,165 a year ago.
Half-year dividends amount to 2.8 US cents, compared to 1.0 cent a year ago. Targets 5.25 to 5.75 cents for 2022.
"During the first half of the year, authorities in both the US and the UK lifted most of the remaining Covid restrictions. The company and its advisers have coped well with the effects of the pandemic and there were no material impacts on asset operations or the investment portfolio," states Chair Patrick O'D Bourke.
Looking ahead, Bourke says: "The US renewable energy sector continues to offer strong prospects for ongoing investment and growth, even while facing near-term challenges of supply chain constraints, inflation, and potential trade policy risks on certain imported solar components. "
Current stock price: 77.00 pence, down 1.6% on Friday
12-month change: up 11%
By Tom Budszus; [email protected]
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