Greencoat UK Wind PLC (LSE:UKW) said it generated 4,362GHw of sustainable electricity in 2022 as the group increased its dividend.
The renewable infrastructure fund lifted its dividend to 7.72p from 7.18p in 2021, with it targeting a dividend of 8.76p in 2023, in line with RPI, according to a statement.
"2022 was another significant year for the company, as we continue to build on our well-established track record. Our simple, low risk, and proven strategy has enabled us to increase our dividend once more, and to target a dividend of 8.76p per share for 2023, a 13.4% increase reflecting December's RPI,” said chairman Shonaid Jemmett-Page.
Security and cost concerns, alongside net zero climate objectives, mean the UK is targeting 50GW of offshore wind energy by 2030, said Greencoat, with 14GW of offshore wind generated currently.
Greencoat said, therefore, that the outlook for the group is “very encouraging”, with a proven operational and financial performance from its existing portfolio coupled with a pipeline of further investment opportunities.
"We continue to see an attractive investment pipeline, both onshore and offshore, and remain strongly positioned to deliver more value-accretive acquisitions to further enhance returns for our shareholders,” said Jemmett-Page.
Greencoat said its gross asset value grew to £5.6bn in 2022 from £4bn in 2021, while its net asset value grew to £3.8bn from £3bn.