TNB’s wind farm purchase a good start

MIDF has a “buy’’ call on the stock with an unchanged target price (TP) of RM11.80 per share, while Kenanga has an “outperform,’’ with the same TP.

PETALING JAYA: Tenaga Nasional Bhd’s (TNB) purchase of an offshore wind farm in Europe appears to be a good start for it to expand its renewable energy (RE) portfolio in Britain and Europe.

The purchase is via a relatively lower-risk option given the maturity and return of the capital-backed nature of assets.