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LONDON (Alliance News) - Renewables Infrastructure Group Ltd said Tuesday its net asset value per share has increased on a number of factors, including a higher assumed asset life from its wind portfolio.
At at February 28 the renewable energy infrastructure investor's net asset value per share was 111.6 pence ex-dividend and 113.2p on a cum-dividend basis. This is a 2.7p per share uplift from its net asset value of 108.9p per share on December 31.
Renewables Infrastructure said the lift "principally reflects an increase in the assumed asset lives within the wind portfolio, as well as portfolio production levels, foreign exchange movements and the unwinding of the discount rate" in the two months since the end of 2018.
Following a technical review, the overall asset life across its current portfolio was increased to 29 years from an overall average across its December portfolio of 27 years. This increase was largely on its wind portfolio, which averaged 29 years compared to 30 years for its solar portfolio.
Shares in Renewables Infrastructure closed up 0.7% at 118.80 pence on Tuesday.