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Currency in GBP
Last close As at 02/06/2023
GBP0.65
▲ 0.75 (1.16%)
Market capitalisation
GBP65m
Triple Point Energy Transition aims to invest in assets that support the transition to a lower-carbon, more efficient energy system. It targets predominantly UK assets and seeks to generate an attractive, long-term income stream with a positive impact for its shareholders.
MD - Head of Content, Energy & Resources, Industrials
Dr John Roberts, CBE
Chairman
Jonathan Hick
Lead fund manager
Matthew Brown
Group Head of Marketing
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | 7.4 | (7.1) | (29.3) |
| Relative | 13.1 | (1.7) | (26.9) |
| 52 week high/low | 92.0p/60.2p |
Triple Point Energy Transition (TENT) invests in a portfolio of energy transition technologies aimed at reducing CO2 emissions in power Fgeneration, storage and consumption. We view dividends as fully covered by cash flow in FY23 and forecast that dividend cover will reach 1.2x by FY25. NAV return for the 9M to December 2022 was 7.8% and we see scope for growth in NAV/share given TENT is still rolling out its portfolio of cash-generative assets, all else being equal. Its existing investments include run-of-river hydropower assets in Scotland, a debt provider to a rapidly growing portfolio of battery energy storage systems (BESS) and combined heat and power (CHP) plants co-located with food producers. Led by Jonathan Hick, TENT’s team focuses on specific high-return/less commoditised niches in the energy transition sphere. In our view, the fund is trading at an unwarranted discount to NAV with an attractive dividend yield of nearly 9%.
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