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Renewable Energy Infrastructure

Green investment room for those with a green conscience or following environmental, social and governance (ESG) principles
richfool
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Re: Renewable Energy Infrastructure

#491696

Postby richfool » April 4th, 2022, 11:52 pm

Just came across this which may be of interest:
Capital Gearing, the £1bn defensive global trust, caps off a remarkable 40-year record under Peter Spiller, with successful investments in listed renewables funds and traditional oil & gas stocks.
Capital Gearing (CGT ), the £1bn defensive global trust run by Peter Spiller, has piled into listed renewables funds in a bid to capture the inflation protection and exposure to rising power prices they offer.

https://www.theaic.co.uk/aic/news/cityw ... nd-oil-gas

Me too, and major oil for the time being, through ASEI, MRCH, BERI, LWDB.

vand
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Re: Renewable Energy Infrastructure

#495411

Postby vand » April 20th, 2022, 1:25 pm


richfool
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Re: Renewable Energy Infrastructure

#495416

Postby richfool » April 20th, 2022, 2:01 pm

vand wrote:A nice 5% dividend hike from NESF:

https://quoteddata.com/2022/04/nextener ... ividend-5/

Thanks for the update on the dividend.

I actually added NESF @1.036p, at the beginning of this month, as I noticed it was just trading at a discount, rather than a premium.

According to HL, today its trading at 1.08p and still at a discount of: -1.74%, and yielding 6.54%

https://www.hl.co.uk/shares/shares-sear ... dinary-npv

richfool
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Re: Renewable Energy Infrastructure

#495557

Postby richfool » April 21st, 2022, 9:43 am

Last year I looked at Ecofin US Renewables Infrastructure trust (RNEP), but decided against it as it was a new trust and was, at that time, not yet paying the full proposed dividend.

In view of recent events and the increased demand for alternative energy I took another look, and was surprised to see how much the SP has risen in the last few months, which leaves me feeling I missed a boat there.

HL show the current yield as 2.84% and the trust trading at a premium of +9.2%.

https://www.hl.co.uk/shares/shares-sear ... ture-trust

richfool
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Re: Renewable Energy Infrastructure

#497453

Postby richfool » April 29th, 2022, 12:14 pm

Friday 29 April, 2022
Greencoat UK Wind
Kepler Trust Intelligence: Flash Update
RNS Number : 8949J
Greencoat UK Wind PLC
29 April 2022
Flash update from Kepler Trust Intelligence

Greencoat UK Wind (UKW) stands out from the peer group as the only pure play wind trust, exposed solely to the UK. It has a relatively simple model, which aims to invest in wind farms at attractive rates of return, and over time use around two-thirds of cashflows to pay a dividend that rises with inflation each year, as well as re-invest the remaining third of annual cashflows to preserve the capital base in real terms. In an average year, this allows for a strong level of dividend cover. And it is this dividend cover that allows the managers to run an 'un-hedged' exposure to power prices, yet still be confident of hitting the board's dividend target.


At times this has looked to be a potential disadvantage (when power prices crashed in the early stages of the pandemic for example). However, UKW has been a significant beneficiary of the very high wholesale electricity prices we are currently experiencing. This benefit has come through excess cashflows at roughly twice the "model" rate (3p net of depreciation for the quarter), but also through a 5.2% NAV increase as a result of higher forward power prices (for the period 2022-2025) increasing the value of the trust's assets.

Rising assumptions for 2022 inflation (but no further out) has also led to a significant 4.5% increase in NAV. Cumulatively, and when added together this has resulted in a very strong NAV, which will be welcomed by shareholders. It also provides credence to the manager's approach, which even before this announcement had provided the strongest NAV total returns in the peer group.

UKW's dividend target of 7.72p for 2022 offers shareholders a prospective dividend yield of 4.85%. At the current share price of 159p, the shares trade at a premium to NAV of 6.5%, which compares to the average over the last five years of 11.8% (Source: Morningstar).

https://www.investegate.co.uk/greencoat ... 42148949J/

BullDog
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Re: Renewable Energy Infrastructure

#498113

Postby BullDog » May 3rd, 2022, 9:44 am

A well received update this morning from HEIT -

https://www.londonstockexchange.com/new ... e/15433641

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Re: Renewable Energy Infrastructure

#498174

Postby BullDog » May 3rd, 2022, 1:05 pm

A positive update from Edison on GRID. Always a bit sceptical about paid for analysts notes. But direction of travel at GRID seems very clear -

https://www.edisongroup.com/publication ... ead/30828/

UncleEbenezer
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Re: Renewable Energy Infrastructure

#498177

Postby UncleEbenezer » May 3rd, 2022, 1:17 pm

BullDog wrote:A positive update from Edison /

Has Edison ever issued a note that doesn't fit that description?

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Re: Renewable Energy Infrastructure

#498195

Postby BullDog » May 3rd, 2022, 2:51 pm

UncleEbenezer wrote:
BullDog wrote:A positive update from Edison /

Has Edison ever issued a note that doesn't fit that description?

Hence my scepticism expressed above. Though in the case of GRID, everything seems to be playing out as forecast by the management.

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Re: Renewable Energy Infrastructure

#498319

Postby BullDog » May 4th, 2022, 8:42 am

BullDog wrote:A positive update from Edison on GRID. Always a bit sceptical about paid for analysts notes. But direction of travel at GRID seems very clear -

https://www.edisongroup.com/publication ... ead/30828/

And a follow up RNS update this morning from GRID. All going swimmingly well. What could possibly go wrong.......?

https://www.lse.co.uk/rns/GRID/quarterl ... 63lge.html

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Re: Renewable Energy Infrastructure

#498330

Postby richfool » May 4th, 2022, 9:13 am

Most of my renewable energy holdings have perked up over the last couple of days and particularly GRID and my solar holdings.

richfool
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Re: Renewable Energy Infrastructure

#501296

Postby richfool » May 18th, 2022, 2:38 pm

Some suggestions for alternative income trusts which include GRID and DORE:

Four alternative income trusts to consider for your ISA
With inflation running at 6.2% in the UK, there are few options for investors to generate a real rate of return (inflation-adjusted) through dividends or bond coupons alone.

Global equity portfolios have become increasingly vulnerable to persistently high inflation, while bonds are falling in value as central banks have stopped quantitative easing (QE) and started raising interest rates.

Despite this backdrop, investors wishing to take advantage of their ISA allowance still have some options within the investment trust universe for alternative sources of income.

James Sullivan, head of partnerships at Tyndall Investment Management, said: “Something akin to the kid in the candy store, there is today a plethora of investment trusts offering the investment community exposure to the hugely diverse alternative universe.

"Like the candy, not all these investments will be good for one’s health as many concepts remain largely immature.”

However, one vehicle that he said stands out as being “roadworthy” was the Gresham House Energy Storage, which listed in 2018 when the concept of battery storage was still in its relative infancy.

He said: "At a time when most countries are pursuing a green agenda in some form, being able to harness and redistribute this environmentally friendly yet somewhat erratic power source has proven to be troublesome.

“This catalysed the need for storage and the capability to balance power output, offering a more predictable and reliable output.”

Sullivan noted the trust’s 17 projects which equal to 425 megawatts (MW) of power: “To put this into perspective, it is estimated that 1MW would meet the needs of around 160 homes, therefore this trust alone can power the equivalent of circa 70,000 homes,” he said.

Ben Yearsley, director at Fairview Investing, went with the Downing Renewables & Infrastructure Trust as his pick.

“If you want alternative income these days then the trust world has plenty of options, however most are infrastructure linked in some form,” he said. “The big problem for investors is that lots of these kinds of trusts trade on large premiums, which brings me to Downing’s relatively new offer.”

First, he pointed to the trust’s relatively modest premium of less than 1%, which is due to it being still fairly small, so bigger investors have not yet started to buy it.

“As the name suggests this trust is basically a renewable energy generating trust; Downing has many years’ experience investing in this space through its highly regarded IHT scheme,” he said.

“Probably the key differences between this trust and similar alternatives is that it focus on the Nordic regions for their investments and also Hydroelectric power. It can and does still invest in the UK, and also all forms of renewable energy.”

Yearsley said the trust is a good way for investors to play into two major themes that are emerging today: the rise in importance of energy security and the cleanliness of energy.

https://www.trustnet.com/news/13297215/ ... r-your-isa

richfool
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Re: Renewable Energy Infrastructure

#505881

Postby richfool » June 8th, 2022, 6:57 pm

DORE to issue new shares:
From Trustnet:
Infrastructure Trust to issue new shares
07 June 2022

The company is looking to increase its market capitalisation by one third.

The £150m Downing Renewables & Infrastructure Trust (DORE) has announced a proposed issue of 250 million ordinary shares to raise £50m for to take advantage of near-term pipeline assets.

Shares will cost 111p each, a slight discount on the 113p price as of Tuesday afternoon with £17.3m of the money raised going towards repaying its revolving credit facility (RCF).


The company will invest the leftover capital in line with its current investment policy in solar, hydro, wind, batteries and other infrastructure assets in the UK, Ireland and Northern Europe.

Chair Hugh Little said the move has the “potential to further grow NAV [net asset value], increase the diversity of DORE's portfolio, and continue to provide stable returns to shareholders”.

The trust’s performance has indeed been strong, outperforming its IT Renewable Energy Infrastructure sector by 3.8 percentage points since its launch in 2020, as shown in the chart below. It has a yield of 4.2%, which is below average for the sector.

https://www.trustnet.com/news/13308212/ ... new-shares

That's good, DORE is a recent addition to my renewables, so I can top up at a discount.

gnawsome
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Re: Renewable Energy Infrastructure

#507188

Postby gnawsome » June 14th, 2022, 3:19 pm

[b]The £150m Downing Renewables & Infrastructure Trust (DORE) has announced a proposed issue of 250 million ordinary shares to raise £50m for to take advantage of near-term pipeline assets.

Shares will cost 111p each, a slight discount on the 113p price as of Tuesday afternoon with £17.3m of the money raised going towards repaying its revolving credit facility (RCF).
[/b]

That's good, DORE is a recent addition to my renewables, so I can top up at a discount.[/quote]

An even better discount if you can buy through ii who seem to be saying that the price is £1..

DOWNING RENEWABLES & INFRASTRUCTURE IPO
£1.00

-
£1.00
11,100
£11,100.00
£11,100.00
£0.00
0.00%
[More Options]

stacker512
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Re: Renewable Energy Infrastructure

#507265

Postby stacker512 » June 14th, 2022, 10:20 pm

gnawsome wrote:
[b]The £150m Downing Renewables & Infrastructure Trust (DORE) has announced a proposed issue of 250 million ordinary shares to raise £50m for to take advantage of near-term pipeline assets.

Shares will cost 111p each, a slight discount on the 113p price as of Tuesday afternoon with £17.3m of the money raised going towards repaying its revolving credit facility (RCF).
[/b]

That's good, DORE is a recent addition to my renewables, so I can top up at a discount.


An even better discount if you can buy through ii who seem to be saying that the price is £1..


How do you do this in practice?
I assume you can't just buy the shares on the open market, in order to buy the special 111p shares?

gnawsome
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Re: Renewable Energy Infrastructure

#507272

Postby gnawsome » June 14th, 2022, 11:00 pm

stacker512 wrote:How do you do this in practice?
I assume you can't just buy the shares on the open market, in order to buy the special 111p shares?


Hi
First up; don't read too much into this - largely its me just having a rant about careless web site entries.

But to answer the question I guess you need a broker and an account and cash within it (I'm with ii)
On their website (when logged in) under the heading 'research' you will notice IPO's.
There will be an invitation to subscribe for any that ii are marketing
You select the offer and how much (cash or shares) you would like to subscribe, remembering that you may get only what they will allocate according to your subscription.
Primary bid is an alternative that may suit others but too much complicated technology for me to cope with and it doesn't seem to get the shares where I want them - in my ISA
Having said that be wary. Most IPO's seem to get support for some time after the issue has closed and then we're on our own.
You should be able to buy it the market after the offer cloes
Last edited by tjh290633 on June 14th, 2022, 11:10 pm, edited 1 time in total.

stacker512
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Re: Renewable Energy Infrastructure

#507274

Postby stacker512 » June 14th, 2022, 11:09 pm

gnawsome wrote:
stacker512 wrote:How do you do this in practice?
I assume you can't just buy the shares on the open market, in order to buy the special 111p shares?


Hi
First up; don't read too much into this - largely its me just having a rant about careless web site entries.

But to answer the question I guess you need a broker and an account and cash within it (I'm with ii)
On their website (when logged in) under the heading 'research' you will notice IPO's.
There will be an invitation to subscribe for any that ii are marketing
You select the offer and how much (cash or shares) you would like to subscribe, remembering that you may get only what they will allocate according to your subscription.
Primary bid is an alternative that may suit others but too much complicated technology for me to cope with and it doesn't seem to get the shares where I want them - in my ISA
Having said that be wary. Most IPO's seem to get support for some time after the issue has closed and then we're on our own.
You should be able to buy it the market after the offer cloes


Thanks. I don't see this on Charles Stanley Direct, so I'm either looking at the wrong place, or they don't support such an action.
Last edited by tjh290633 on June 14th, 2022, 11:12 pm, edited 1 time in total.
Reason: Corrected quote attribution-TJH

gnawsome
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Re: Renewable Energy Infrastructure

#507275

Postby gnawsome » June 14th, 2022, 11:19 pm

stacker512 wrote:
gnawsome wrote:[i]
stacker512 wrote:
Thanks. I don't see this on Charles Stanley Direct, so I'm either looking at the wrong place, or they don't support such an action.

Not a client of Charles Stanley so I have no comment

richfool
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Re: Renewable Energy Infrastructure

#507313

Postby richfool » June 15th, 2022, 9:02 am

My ISA is with Jarvis X-O and I already held DORE within the ISA. I received a letter inviting me to take up the offer, which I have done.

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Re: Renewable Energy Infrastructure

#533221

Postby BullDog » September 29th, 2022, 8:27 am

BullDog wrote:A well received update this morning from HEIT -

https://www.londonstockexchange.com/new ... e/15433641

Any holders of HEIT might care to take note of a C share issue announced yesterday. Awful timing by the company, but a good opportunity to buy more shares at 100p. HEIT is forecasting an 8p dividend for FY 2023, I understand.


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