In QuotedData’s morning briefing 21 August 2023
- The Renewables Infrastructure Group (TRIG) has announced that is has deposed of three of its onshore wind farms. The sites are located in Ireland and were sold at a combined consideration of c. €25m, a 26% premium to their last valuation which was made on 31 December 2022. The projects were nearing the end of their expected lives, and the TRIG team comments that the profits they generated on this transaction are a reflection of the development opportunity available to the buyer for life extension and repowering. [We have been saying for a while that disposals from renewable energy portfolios shuld help demonstrate the accuracy of the NAVs. The valuation uplifts achieved here are remarkable, but perhaps not indicative of the undervalutaion of TRIG’s or the wider sector’s portfolios.]
- Ediston Property Investment Company (EPIC) notes the recent press speculation and confirms that it is in advanced discussions with RI UK 1 Limited, a wholly owned indirect subsidiary of Realty Income Corporation, regarding a possible sale of its property portfolio.
- NB Distressed Debt Investment Fund will be making a capital distribution of approximately $3.7m for the Extended Life (NBDX) share class.
We also have news of a new manager for US Solar