16th Nov 2020 20:15
Triple Point Income VCT PLC - renewable energy investor - Net asset value per C share at September 30, 83.20 pence, down from 132.80p same time last year. Net asset value per D share, 58.60p down from 113.54p. Net asset value per E share 101.69p, down from 101.35p. Pretax profit for half year to September-end, widens to GBP767,000 from GBP329,000.
"In June 2019, the UK parliament adopted a net-zero emissions target for 2050, going further than previous legislation, which mandated 80% emission reductions by 2050. Decarbonisation of the electricity sector, primarily through renewable generation, will be critical to achieving this. The Company continues to support this target through all its Share Classes and their investments in hydroelectricity, solar and gas-fired energy centres. The UK still experiences significant peaks and troughs in energy consumption. Gas-fired energy centres help to solve these short-term peaks in the electricity demand profile. Natural gas neatly bridges the gap between environmentally unfriendly fossil fuels and more irregular solar and wind power," said Chair David Frank.
Current stock price: 87.00 pence
Year-to-date change: down 4.4%
By Arvind Bhunjun; [email protected]
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