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Greencoat UK Wind close to powering 1 mln UK homes as size of portfolio surges

Greencoat UK Wind’s (LON:UKW) manager Stephen Lilley was happy with the first half performance even though wind speeds were slightly lower than expected.

The group bought four assets over the first half of the year worth £611mln, including its first deal for an asset without a ROC subsidy.

UK Wind’s portfolio generated enough electricity to power 940,000 homes, while the dividend rose to 3.47p.

The wind farm group is now the LSE’s 166th largest listed company and third-biggest onshore wind asset owner in Europe.

“The dividend is 1.7 times covered, has matched RPI for six years while at the same time we have preserved NAV.”

Quick facts: Greencoat UK Wind PLC

Price: 144.8 GBX

LSE:UKW
Market: LSE
Market Cap: £2.2 billion
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Plenty more deals in the pipeline for Greencoat UK Wind PLC says manager

There are still plenty of opportunities in the acquisition pipeline for onshore UK wind farm operator Greencoat UK Wind PLC (LON:UKW) according to investment manager Stephen Lilley. The fund had a busy 2019, Lilley told Proactive, with £600mln invested and £200mln committed for new projects...

on 27/2/20

2 min read