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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Greencoat Uk Wind Plc | LSE:UKW | London | Ordinary Share | GB00B8SC6K54 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.70 | 1.22% | 141.20 | 141.00 | 141.30 | 141.20 | 138.60 | 138.60 | 1,424,846 | 11:22:01 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 234.38M | 126.19M | 0.0548 | 25.69 | 3.24B |
TIDMUKW
RNS Number : 0436H
Greencoat UK Wind PLC
08 March 2018
8 March 2018
Acquisition of Brockaghboy wind farm
Increase in Greencoat UK Wind's net generating capacity to 741MW
Greencoat UK Wind PLC ("UKW") is pleased to announce that it has acquired Brockaghboy wind farm from ERG Power Generation SpA ("ERG") for a total consideration of approximately GBP163 million.
Brockaghboy is located approximately 30 miles east of Londonderry in Northern Ireland and has a capacity of 47.5MW. Brockaghboy was originally developed by TCI Renewables Limited ("TCI") and constructed by ERG with support from TCI. The wind farm is accredited to receive 0.9 ROCs per MWh from August 2017 and was fully commissioned in February 2018. The forecast net load factor is 40.5%.
Tim Ingram, Chairman of UKW, commented: "We are very pleased with this latest acquisition. 2017 was a busy year for us and it is great to start 2018 with the acquisition of a 100% ownership stake in a brand new, good sized, very high load factor wind farm, from very experienced developers. The secondary market remains active and there are several wind farms that we now expect to be acquired by others in the near future: as with all our acquisitions, price discipline is paramount."
Laurence Fumagalli of Greencoat Capital added: "Brockaghboy is another great example of UKW's expertise delivering execution certainty and efficiency for both buyer and seller."
The acquisition was funded by UKW's revolving credit facility (GBP100 million) plus an increase in UKW's term debt facility with Commonwealth Bank of Australia (GBP50 million) plus reinvestment of portfolio cash (approximately GBP13 million). The new tranche under the term debt facility has a term of 7 years. Following the acquisition, UKW's total borrowings amount to GBP415 million (GBP150 million under the term debt facility plus GBP265 million under the revolving credit facility), equivalent to 27% of Gross Asset Value (gearing limit 40%).
For further information, please contact:
Greencoat UK Wind PLC 020 7832 9400
Stephen Lilley
Laurence Fumagalli
Tom Rayner
Headland Consultancy 020 7353 4200
Rob Walker
Charlie Twigg
Notes to Editors:
Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in 30 operating UK wind farms with net generating capacity of 741MW (including the acquisition of Brockaghboy). The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation (6.76p for 2018) while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cash flow and the prudent use of gearing.
UKW is managed by an experienced team at Greencoat Capital LLP, a leading European renewable investment manager with over GBP2 billion of assets under management across a number of funds in wind and solar infrastructure and private equity, and is overseen by a strong and experienced independent board.
UKW is incorporated in England and Wales and is a UK Investment Trust.
For more information about UKW, please visit http://www.greencoat-ukwind.com.
For more information about Greencoat Capital LLP, please visit http://www.greencoat-capital.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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March 08, 2018 02:00 ET (07:00 GMT)
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