Greencoat UK Wind PLC: Greencoat announces Full Year results for 2014

23 February, 2015


Greencoat UK Wind announces Full Year results for 2014



  • The Group's investments generated 564.6GWh of electricity, in line with expectations.
  • Net cash generation after fees, costs and expenses (Group and wind farm SPVs) was £32.4 million.
  • Acquisition of interests in six further wind farms using the Group's cash resources and acquisition debt facility increased the portfolio to sixteen wind farms, net generating capacity to 271.5MW and GAV to £591.2 million as at 31 December 2014.
  • The Company declared total dividends of 6.16 pence per share in relation to the year and announced a target dividend of 6.26 pence per share for 2015 (increased by 1.6 per cent., in line with RPI).
  • NAV growth of 2.5 pence per share (adjusting for dividends).
  • Successful capital raise in October 2014 at 107.0 pence per share raising gross issue proceeds of £125 million, 25 per cent. above target.
  • £105 million outstanding acquisition debt facility at 31 December 2014, equivalent to 18 per cent. of GAV.



 Commenting on today's results, Tim Ingram, Chairman of Greencoat UK Wind, said:

"We are pleased to report the continued good performance of our portfolio and to have delivered the attractive dividend and real NAV growth promised at IPO during 2014. 

We have increased our investment portfolio from 6 to 16 UK wind farms since listing and our net generating capacity from 126.5 to 271.5MW. It is pleasing to have now acquired new wind farms from five different sellers, a testament to the benefit of the Company's independence and to its ability to be selective in its acquisitions."