Directors Valuation 2026
The Directors’ Valuation is currently £2.63 per share.
The Directors’ Valuation was last reviewed in March 2026. Details about the update are available here.
Our approach to the Directors’ Valuation has been consistently applied for the last 17 years. It is based on the value of each project in the portfolio, both operating and under construction.
We use a detailed discounted cash flow valuation. This looks at the forecast income for each project in the future less direct project costs and central overheads.
The forecast is discounted to account for time and risk- with more risky projects discounted more and money forecast to be received further into the future discounted more than money due in the short term.
We consider this approach appropriate for our projects which are capital intensive and long-term investments. The Directors’ Valuation is regularly updated and adjusted after any material events which impact on the valuation, such as the acquisition of new projects, changes in electricity prices and corporation tax.
In 2019, we sold two operational wind farms realising a significant gain. Established renewable energy projects have become a desirable commodity, offering long term inflation linked revenues. The sale of the two projects provides further evidence to support our valuation of the Company.