Ian McConnell
Group Business Editor
GREENCOAT UK Wind, the fund with assets including a 50% stake in the
72-megawatt Braes of Doune wind farm near Stirling, has highlighted
“plentiful supply” of further acquisition opportunities.
The £262 million fund, which also owns the 6MW Carcant wind farm in the
Scottish Borders, underlined the good operating performance of the six UK
wind farms in its portfolio as it unveiled results for the period to June 30.
Greencoat UK, which was formed on December 4 and completed its £260m
fundraising and listed on the stock market on March 27, said it intended to
pay an initial dividend of 1.5p-a-share, equivalent to an annual dividend
of 6p.
It said the value of its portfolio of wind farm investments had declined
from £250.5m to £247.2m by June 30, but added that such a fall would be
expected for assets with a finite life. Greencoat UK noted the £10.8m of
net cash generated by its wind farm stakes was greater than this fall in value.
Flagging its acquisition plans, it said: “There should be a plentiful
supply of operating wind farms to purchase at an attractive yield.”
Asked whether it was looking at buying further Scottish wind farms,
Greencoat UK’s Tom Rayner replied: “I can’t be that specific. We are
looking all over the place. Obviously, there are lots in Scotland.”
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