Greencoat UK Wind on the rise as institutions clamour for renewables
- Greencoat UK Wind appoints net zero expert to board
- Greencoat UK Wind's Stephen Lilley details new Walney acquisition
Quick facts: Greencoat UK Wind PLC
Price: 136.6 GBX
Market Cap: £2.7 billion
About the company
Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in operating UK wind farms.
The fund is a constituent of the FTSE 250 and has a market capitalisation of approximately £2.5 billion.
How it is doing
Winser, who will also become a member of the audit, management engagement and nominations committees, will join the board from 1 January 2022.
His 30-year career in the energy sector included his roles at National Grid (LSE:NG.) as UK and European CEO, as well as president of the European Network of Transmission System Operators for Electricity and chair of CIGRE UK.
Winser has been the chairman of Energy Systems Catapult since 2015 and chaired the advisory board for the Energy Revolution ISCF programme in 2018 and served on the advisory panel for the Cost of Energy Review in 2017. He is also part of the Net Zero Expert Group and a COP26 advisory group which advises the Secretary of State.
Greencoat UK Wind PLC (LON: UKW) said it had agreed to make acquisitions worth almost £100mln.
It is buying the 50% of the Braes of Doune wind farm, in Stirlingshire, Scotland, which it doesn’t already own for £48.1mln from Federated Hermes.
What management says
Greencoat UK Wind PLC's (LON:UKW) Stephen Lilley talks Proactive London through the acquisition of the Walney offshore wind farm. It's located nine miles off the Cumbrian coast and has a capacity of 367Mw. Greencoat's funding the purchase from its £400mln acquisition facility, which will push total borrowing up to £980mln or 35% of gross asset value. Lilley hints at further investments over the next 18 months as they continue to capitalise on a strong pipeline of acquisition opportunities in the UK wind farm market.
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