Foresight Environmental Infrastructure (LSE:FGEN) said it remains on track to deliver its annual dividend target as its operational assets delivered a record level of cash for the first half of its financial year.
This was the first set of results since the investment trust changed its name from JLEN Environmental Assets Group in September.
Its portfolio, which ranges from wind and solar projects, to waste and bioenergy, battery storage and hydro, generated cash receipts of £46.6 million in the six months to end-September, slightly ahead of the first-half record set last year.
FGEN also raised £68.1 million from sales of six anaerobic digestion facilities in the period, with £20 million spent on a share buyback programme and other priority being repayment of the revolving credit facility.
A setback in the period was the full writedown of the value a green hydrogen investment after it entered administration having failed to secure funding, resulting in a 2.6% hit to NAV.
Net asset value per share came in at 109.8p at the end of September, for a flat NAV total return of 0.04% for the period.
The annual dividend target is 7.80p, which puts the shares that last closed at 77.7p on a yield of just over 10%.
The interim results "reflect both progress and challenges", said chair Ed Warner.
"While the full write-down of our investment in HH2E impacted overall performance, outside of this our diversified portfolio of sustainable infrastructure assets performed well, delivering record cash distributions and solid dividend cover."
"We remain committed to disciplined capital allocation in the near term, progressing our construction stage assets and delivering other value enhancements across the portfolio.
"Longer term we are well positioned to take advantage of the significant investment opportunity presented by the commitment to decarbonisation and sustainable development when the wider environment supports it."