The Board of Greencoat UKW Wind PLC ("UKW"), is pleased to
announce that it has entered into an agreement to acquire Screggagh
Wind Farm for a total consideration of c. £27 million.
Greencoat UK Wind PLC is the leading listed renewable
infrastructure fund, invested in operating UK wind farms. The
Company's aim is to provide investors with an annual dividend that
increases in line with RPI inflation while preserving the capital
value of its investment portfolio in the long term on a real basis
through reinvestment of excess cash flow and the prudent use of
• The Group's investments generated 451.4GWh, 3 per cent. below
budget owing to low wind resource.
• Net cash generation (Group and wind farm SPVs) was £30.9
• Acquisition of an interest in Clyde wind farm and the
acquisition of Screggagh wind farm increased the portfolio to
nineteen wind farm investments, net generating capacity to 420MW
and GAV to £874.4 million as at 30 June 2016.
• Issuance of further shares raising £100 million.
• The Company declared total dividends of 3.17 pence per share
with respect to the period.
• £245 million outstanding borrowings at 30 June 2016,
equivalent to 28 per cent. of GAV.
Commenting on today's results, Tim Ingram, Chairman of Greencoat
UK Wind, said:
"We are pleased to report the continued steady performance of
our portfolio, with good cash generation, an increase in the
dividend and strong dividend cover.
"During the period, we added two high quality wind farm
investments to the portfolio. Clyde, which at 350MW is one of the
UK's largest wind farms, and Screggagh, a 20MW wind farm in
Northern Ireland, reflect our ability to select the best
investments and efficiently process a wide range of transaction
type and scale.
"We were also pleased with the strong support shown by both
existing and new investors to the Share Issuance Programme we
launched in April. With the proceeds of the first tranche
having partly paid down our acquisition facility we are well placed
to take advantage of our attractive pipeline of growth
The Company announces that its unaudited Net Asset Value as of
30th June 2016 is £629.4 million (104.5p per share).
The Company also announces a quarterly dividend of 1.585p per
share in respect of the period from 1 April 2016 to 30 June
Ex-dividend date 4 August 2016
Record date 5 August 2016
Payment date 26 August 2016
As at 30 June 2016:
Market Capitalisation £689.9 million
Share price 114.5 pence
Dividends with respect to the period £17.6 million
Dividends with respect to the period per share 3.17 pence
GAV £874.4 million
NAV £629.4 million
NAV per share 104.5 pence