Aug 8 2025
Energy transition
Recent Research
TRIG plc, Q1 NAV declines, strategy in focus
May 6 2025
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TRIG plc
Q2 NAV 3.9% lower
TRIG’s net asset value (NAV) declined once more, by 3.9% in Q2; although this was not unique in the sector, it almost exclusively represented lower power price forecasts. From here, the...
Greencoat UK Wind
Resilient H1 performance; further disposals announced
Greencoat UK Wind’s (UKW) H1 results reflect ongoing resilience despite continued low wind speeds. Net cash generation remained strong at £163m, supporting an underlying net dividend...
Greencoat Renewables
Q2 NAV declines; P50 reset complete
Greencoat Renewables’ (Greencoat) Q2 net asset value (NAV) decline reflects the completion of a portfolio-wide reset to its P50 energy yield assumptions. Following initial revisions at...
Greencoat Renewables
Reshaping the portfolio on a NAV-accretive basis
Greencoat Renewables’ (GRP) twinset of announcements marks a meaningful reset of the GRP equity story. The material disposal of six Irish onshore assets (€156m total proceeds) and...
Greencoat Renewables
Strong cash generation, albeit lower power prices impact NAV
The strong cash generation at Greencoat Renewables (GRP) in Q1 – equivalent to 15.6% of opening net asset value (NAV) on an annualised basis despite energy generation being 14% below...
TRIG plc
Q1 NAV declines, strategy in focus
TRIG has recorded a decline in Q1 NAV, primarily driven by lower portfolio output versus budget, a weakening in Swedish power price forecasts and other macroeconomic assumptions. TRIG’s...
Greencoat Renewables
Second long-term PPA signed with Keppel DC REIT
Greencoat Renewables’ second power purchase agreement (PPA) with Keppel DC REIT underscores its active approach to portfolio management. Although modest in the context of its total...
Greencoat UK Wind
Q1 NAV resilient
The Q1 update from Greencoat UK Wind (UKW) is largely as expected. In a period of low wind resource and declining power prices, net asset value (NAV) fell slightly, by 1.2p/share to...
Greencoat Renewables
Demonstrating resilience and growth potential
Greencoat Renewables (GRP) has an attractive and expanding opportunity set ahead aligned with several key megatrends, including AI proliferation. This potential should not be ignored. In...
Greencoat UK Wind
Robust performance with further £100m buyback announced
Despite a more challenging market backdrop, Greencoat UK Wind (UKW) delivered a robust performance in 2024. Net cash generation confirmed as £279m (2023: £406m) equates to a net...
