28th Mar 2023 11:42
(Alliance News) - VH Global Sustainable Energy Opportunities PLC on Tuesday reported a higher net asset value in 2022, saying this was thanks to countries transitioning to sustainable and clean energy.
The investor in sustainable energy infrastructure said NAV per share at December 31 grew 4.1% to 108.21 pence per share from 103.95p a year prior. NAV total return improved to 7.6% from 5.2%.
Chair Bernard Bulkin said: "This has been another very busy year for the fund against a backdrop of significant global economic challenges, in particular a growing energy crisis exacerbated by Russia's invasion of Ukraine, and a sharp increase in the cost of living that is severely affecting families and households.
"The current environment presents a very compelling rationale for us to continue investing in solutions that facilitate the energy transition, enable renewable energy technologies, improve energy security and affordability, while having a meaningful impact in the economies where we deploy capital."
The company declared a total dividend of 5.13p per share, up sharply from 1.25p a year ago and in line with its 5p target for 2022.
Looking ahead, VH Global said it is well-positioned to capitalise on the global shift towards cleaner and more sustainable sources of power. Further, it added that it benefits from significant inflation protection via index-linked revenue.
VH Global Sustainable Energy Opportunities shares were 0.2% higher at 101.65 pence each on Tuesday morning in London.
By Tom Budszus, Alliance News reporter
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