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TRIG profits surge 28%

UK group generated more power after adding new wind farms

TRIG profits surge 28% image

UK-based investment manager The Renewables Infrastructure Group has posted a rise in first-half profit after it grew its wind generation portfolio.

Net operating profit for the six months through June rose 28% to £33.3m, up from £25.9m in the previous corresponding period. Profit before tax jumped to £31.31, from £19.2m.

The group's asset portfolio generated 851GWh of electricity over the period, 15% more than the first half of 2016, following the acquisition of the 34MW Garreg Lwyd Hill wind farm in Wales.

TRIG also completed the 22.6MW Freasdail wind farm in Scotland.

TRIG chairman Helen Mahy said the company had achieved target generation despite challenging weather conditions in certain geographies.

She reiterated guidance for a 6.4p full-year dividend.

Image: BayWa

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