7th May 2014 13:52
LONDON (Alliance News) - Renewables Infrastructure Group Ltd Wednesday said its portfolio continued to perform above expectations in terms of electricity production in the first-quarter due to a strong wind performance in the British Isles, and was "comfortably" within the range of expectations upon acquisition for all the projects.
In a statement, the renewable energy infrastructure company said there was a degree of variability in electricity production levels from period to period and from site to site, as expected, but added that its diversified portfolio offset the volatile weather conditions experienced in many parts of the Northern hemisphere over the winter.
Renewables Infrastructure had previously cautioned that its net asset value could be exposed to a potential 2.0 pence a share hit because of changes to carbon taxes. But it said Wednesday that no such hit was incurred despite changes made in the 2014 UK budget in March.
Its investment manager, InfraRed Capital Partners, continues to evaluate a selection of new investment opportunities from an "extensive pipeline" of opportunities, it said.
Renewables Infrastructure shares were Wednesday quoted at 104.00 pence, down 0.2%.
By Samuel Agini; [email protected]; @samuelagini
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