Greencoat UK Wind PLC (LSE:UKW, FRA:3GC) co-head Matt Ridley joined Proactive's Stephen Gunnion to discuss a strong Q1, with wind generation 4.2% above budget and net cash generation of £131 million - equivalent to 2.3 times the dividend paid in the period.
Better wind speeds and stronger power prices contributed to a portfolio return of 11.5%, with NAV broadly flat after discount rate and inflation adjustments. Ridley also flagged the potential introduction of Contracts for Difference for existing renewable assets as a positive development, offering price certainty for generators while reducing costs for consumers.
Looking ahead, the focus is on operational performance, reducing gearing and selective reinvestment, with £30 million of the revolving credit facility already repaid.
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