- 18.6%year on year growth in renewable energy generation, enough to power more than 32,000 homes*
- 4p dividend recommended by Triodos Renewables’ Board*
- Directors recommend share price valuation increase to £2.34, a 2.6% increase since October 2014 and 8.8% increase over the last 12 months.
- Share issue raised £4.1 million
- 800 new share holders joined the company in 2014 (16% growth in our shareholder community)
- Celebrating twentieth anniversary in 2015
Triodos Renewables reports continuing growth amid political insecurities and a volatile market. The company increased their green electricity generation by almost 20% year on year, reaping the rewards of three new wind power projects which were commissioned in 2013. In 2014 the company generated enough renewable electricity to power more than 32,000 homes. With successful construction of a further three wind farms already in 2015, Triodos Renewables now operates sufficient generating capacity to generate more than 32,000 homes of renewable electricity annually*.
Matthew Clayton, executive Director comments: "Providing our shareholders with a rewarding connection with sustainable energy is at the heart of Triodos Renewables. Growing our community of shareholders and renewable generation by 16% and 18% respectively is a very fitting way to start our 20th year of operations. Additionally we are delighted to have successfully commissioned a further three wind farms already this year, putting our shareholders investment to work generating more renewable energy. Nationally renewables are making a very real contribution, having generated almost 20% of the UK’s electricity last year, overtaking power generated by the nuclear fleet."
The profitable growth of the company has resulted in their board recommending a 4p dividend for 2014 to its 6,000 shareholders. At the annual general meeting on 19 June 2015 shareholders will be able to vote about the board’s decision. The board also recommends a raise in the share price from £2.15 at the beginning of 2014 to £2.34 per share following the share issue and the commissioning ahead of schedule of their most recent three wind farms.
Raising the bar
Triodos Renewables launched its eighth share issue in October 2014, raising a total of £4.1 million. The share issue was well supported by existing shareholders who contributed 21% of the funds raised, and an additional 813 new shareholders joined the company, representing 16% growth in the shareholder community. Over the past eight years shareholders have invested £27.5m (£34.4m over the life of the company) into Triodos Renewables; capital which has been invested in developing the company’s renewable energy generation capacity.
In 2014 Triodos Renewables benefited from a full year of operations from the three projects constructed in 2013, plus an additional project commencing generation in November 2014,, taking the total number up to 12 sites with a total generating capacity of 62.9 MW, enough to power more than 32,000 homes with renewable energy*, 18.6% more sustainable electricity than 2013. 2015 has started well, with the energisation of three further sites, bringing Triodos Renewables portfolio to 15 projects with the potential to generate more than 41,000 home equivalent of renewable energy annually*
This year also marks Triodos Renewables’ twentieth anniversary. This milestone will be celebrated during the company’s Annual General Meeting on 19 June 2015 at The M-Shed in Bristol.
* 1 DECC: 4,192 kWh/home
* 2 Directors recommended share valuation £2.28 October 2014 and £2.15 pre-October 2014.