Greencoat UK Wind is a sector-focused infrastructure fund, whose objective is to invest in UK Wind Generation Assets that are already operating and producing income. The fund currently owns interests in 19 onshore and 1 offshore wind farms with a net installed capacity of 436 MW (net being the amount of total capacity owned by Greencoat). The fund envisages providing shareholders with a sustainable income stream through an annual 6p dividend on the issue price of 100p. The announced intention is to increase the dividend in line with Retail Price Index (RPI) inflation. Excess cashflow is invested in additional UK wind farms. The fund is managed by Greencoat Capital LLP, the cleantech and renewables focused investment management firm.
Exchange: London Main (UKW)
Recent Financial Data: LSE summary
Financial Report: Annual report to Dec 2016
Further Information: In March 2016 it was announced that Greencoat UK wind, the Greater Manchester Pension Fund and the London Pensions Fund Authority are between them to purchase 49.9 per cent of the SSE’s huge 350 mw Clyde Wind farm in Lanarkshire for £355 million. Greencoat will have 28.2 per cent of the farm, while the two pension funds will have a total of 21.7 per cent. (It cost some £500 million to develop the farm and bring it into commission in 2012)
The deal does not include any share in SSE’s proposed Clyde Extension. That project, when completed would increase capacity by a further 162 mw and would initially raise SSE’s share of the enterprise back to around 70 per cent.
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Short description: Wind Focused Fund
Fields of interest: Wind