Greencoat UK Wind raises £375m – Greencoat UK Wind (UKW), the £1.53bn market cap wind farm investor, has raised gross proceeds of £375m as part of its share issuance programme. 281,954,887 new ordinary shares will be issued, increasing total ordinary shares to 1,516,927,700. We note that as of 27 May 2019, UKW’s shares traded at a premium of 9.7% to NAV.
Stephen Lilley of Greencoat Capital added: “In 2019, we have added two further high quality investments to the portfolio, in Stronelairg and Dunmaglass, with a third, Tom nan Clach, to follow shortly. This equity capital raise enables UKW to continue to leverage our experience and acquisition expertise to make further attractive investments.”
About Greencoat UK Wind
Greencoat UK Wind invests in 34 operating UK wind farms with net generating capacity of 950MW. The company’s aim is to provide investors with an annual dividend that increases in line with RPI inflation (6.94p for 2019) 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: Greencoat UK Wind raises £375m