Overview
Greencoat Renewables : GRP is an owner and operator of renewable infrastructure energy assets. The company is invested in wind farms in the Republic of Ireland, and listed on the ESM market of the Irish Stock Exchange and the AIM market of the London Stock Exchange – under the ticker GRP. It is managed by Greencoat Capital.
The company aims to provide a progressive dividend (6c on the issue price of €1.00), whilst preserving the portfolio’s capital value through reinvestment of excess cashflow and the prudent use of leverage.
Ireland has an EU obligation to ensure that 16 per cent of primary energy use is derived from renewable sources, expected to be largely from onshore wind, by 2020. Since 1995, Ireland has provided owners of operating wind farms with a supportive regulatory framework. Irish wind farms benefit from a 15 year inflation linked floor price under the REFIT regime, while allowing wind farms to capture prices above the floor.
Currently there is c.2.8GW of operating Irish wind farms with, the Company expects, a further 1.5GW expected to be built under REFIT2 by 2020, with significant consolidation opportunities. Over time, the Company aims to achieve diversification principally through investing in a growing portfolio of assets in certain other Eurozone countries in wind and/or solar PV.
you can access the company’s website here
Fundamentals
Price
Research History
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07 May 2020 8 min read
QuotedData’s Investment Companies Roundup – May 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over April: An update note […]
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07 Apr 2020 8 min read
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
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10 Jan 2020 5 min read
QuotedData’s investment companies roundup – January 2020
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12 Nov 2019 5 min read
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07 Oct 2019 6 min read
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11 Sep 2019 3 min read
QuotedData’s investment companies roundup – September 2019
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05 Apr 2019 4 min read
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16 Oct 2018 2 min read
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12 Oct 2018 1 min read
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1 min read
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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
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10 Jan 2018 2 min read
QuotedData investment companies roundup – January 2018
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19 Oct 2017 1 min read
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14 Sep 2017 1 min read
QuotedData investment companies roundup – September 2017
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03 Aug 2017 1 min read
QuotedData investment companies roundup – August 2017
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News
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16 May 2025 1 min read
QuotedData’s morning briefing 16 May 2025 – AWEM, GRP, NESF
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13 May 2025 1 min read
Greencoat Renewables sells Irish portfolio
Greencoat Renewables says that it has sold six Irish onshore wind assets for €156m. The 115.7MW disposal will translate into up-front consideration of €139m and €17m in non-contingent deferred consideration over 2026 and 2027. The proceeds will be used to reduce the company’s revolving credit facility. Gearing levels will be reduced from 54% reported at […]
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11 Apr 2025 4 min read
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06 Mar 2025 2 min read
Greencoat Renewables cuts fee
Greencoat Renewables (GRP) has published results for 2024. Its NAV return for the period was 4.5%. Its share price return is nowhere to be seen in the announcement, the annual report, or the results presentation, but – for interest – the share price fell from 101.6 cents to 82.3 cents, factoring in the dividend for […]
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20 Nov 2024 2 min read
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07 Sep 2023 1 min read
Greencoat Renewables partners with FuturEnergy Ireland
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17 May 2023 1 min read
QuotedData’s morning briefing 17 May 2023
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26 Apr 2023 1 min read
QuotedData’s morning briefing 26 April 2023
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27 Feb 2023 2 min read
Low wind resource holds back Greencoat Renewables
Greencoat Renewables says that for the year ended 31 December 2022: NAV per share increased by 7.3 cents to 112.4 cents per share Declared dividends totalling 6.18 cents per share, with a target of 6.42 cents for 2023 (+3.9%) The portfolio generated 2,487GWh of electricity in the period (2021: 1,522GWh) that’s enough to power 538,958 […]
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03 Jan 2023 2 min read
QuotedData’s morning briefing 3 January 2023
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01 Nov 2022 3 min read
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27 Sep 2022 1 min read
QuotedData’s morning briefing 27 September 2022
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12 Sep 2022 3 min read
QuotedData’s morning briefing 12 September 2022
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19 Jul 2022 2 min read
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24 May 2022 1 min read
Renewable energy funds hit by windfall tax rumour
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1 min read
Greencoat buying four French windfarms
Greencoat Renewables is buying a 65MW portfolio of operating wind farms in France from Axpo, Switzerland’s largest producer of renewable energy. The acquisition comprises four wind farms, each of which benefits from long-term contracts with the French government. The 16MW Arcy-Précy windfarm is located in the Burgundy region of France and consists of eight Vestas […]
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07 Apr 2022 2 min read
QuotedData’s morning briefing 7 April 2022
In QuotedData’s morning briefing 7 April 2022: Augmentum Fintech (AUGM) is getting a boost from a series C financing round for Grover (a Berlin-based consumer tech platform). Grover has raised $330m in equity and debt. Augmentum will write up the value of its stake by £24.1m (more than double – Augmentum first invested in Grover […]
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01 Apr 2022 1 min read
Greencoat Renewables raises €281.5 million in oversubscribed placing
Greencoat Renewables (GRP) has announced that its placing, which was launched on 21 March 2022, was oversubscribed and has raised gross proceeds of €281.5m. Due to substantial demand, 251,351,351 placing shares will be issued at the placing price of €1.12 per share. This will utilise the remaining capacity of GRP’s 400m share issuance programme. The […]
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25 Mar 2022 1 min read
QuotedData’s weekly news show 25th March 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Aberdeen New India/India Capital Growth • Greencoat Renewables • Rockwood Realisation This week’s interview was with Blake Hutchins of Troy Income & Growth. – […]
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21 Mar 2022 3 min read
Greencoat Renewables looking for more money to fund attractive near-term opportunities
Greencoat Renewables looking for more money to fund attractive near-term opportunities – Greencoat Renewables (GRP) has announced a proposed placing by way of a non-pre-emptive issue at a Placing Price of €1.12, under its existing 400 million share issuance programme launched on 4 October 2021. The placing price represents a discount of 6.7% to the […]
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28 Feb 2022 1 min read
Greencoat Renewables power output 16% below budget
Greencoat Renewables power output 16% below budget – Greencoat Renewables has announced its results for the year ended 31 December 2021. On the plus side: The portfolio increased to 25 assets with a net generating capacity of 800MW (2020: 557MW). Geographic and technology diversification including acquisition of 4 wind farms, including first operational wind farm […]
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16 Feb 2022 2 min read
QuotedData’s morning briefing 16 February 2022
In QuotedData’s morning briefing 16 February 2022: The board of Smithson (SSON) has announced that its chair, Mark Pacitti, will retire on 28 February 2022. Diana Dyer Bartlett will become chair of the board and Lord St John of Bletso will replace Diana as chair of the audit committee. Meanwhile, Jeremy Attard-Manche has been appointed […]
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23 Dec 2021 1 min read
QuotedData’s morning briefing 23 December 2021
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22 Dec 2021 3 min read
QuotedData’s morning briefing 22 December 2021
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25 Oct 2021 2 min read
QuotedData’s morning briefing 25 October 2021
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19 Oct 2021 2 min read
QuotedData’s morning briefing 19 October 2021
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08 Oct 2021 1 min read
QuotedData’s weekly news show 8 October 2021
QuotedData’s weekly news show 8 October 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Greencoat Renewables • Fidelity Emerging This week’s interview was with Steven Tredget of Oakley Capital Investments – […]
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04 Oct 2021 2 min read
Greencoat Renewables announces expansion programme
Greencoat Renewables announces expansion programme – Greencoat Renewables has announced a 12-month share issuance programme of up to 400m new shares. These may be issued in a number of tranches. The proceeds will be used to pursue a growing pipeline of opportunities in continental Europe and Ireland. Today, it has launched an initial placing at €1.11 […]
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26 Aug 2021 1 min read
Greencoat Renewables calls EGM to consider new investment policy
Greencoat Renewables calls EGM to consider new investment policy – Greencoat Renewables (GRP) has called an extraordinary general meeting, to be held next month, to consider proposed amendments to its investment policy. The amendments include adding Spain and Portugal to its definition of ‘other relevant countries’ and to clarify that investments in assets under construction or […]
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01 Apr 2021 2 min read
QuotedData’s morning briefing 1 April 2021
In QuotedData’s morning briefing 1 April 2021 – no April Fools, we promise: UK Commercial Property REIT (UKCM) has sold its Kew Retail Park asset in London to a leading UK housebuilder for £41m. The sale price is marginally below the end 2020 book value. Of the complete 10 acre retail park, the trust owned 4.7 […]
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01 Mar 2021 2 min read
Greencoat Renewables recaps on a big year of growth
Greencoat Renewables (GRP) reported final results for the year to 31 December 2020, with key highlights from the year including the following: 2020 Generation increased by 22% to 1,404GWh, 3 per cent below budget. (2019: 1,154GWh) 2020 Net cash generation increased by 36% to €66.4 million (2019: €48.7million) Dividend cover for 2020 of 1.7x Increased the portfolio […]
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15 Feb 2021 2 min read
QuotedData’s morning briefing 15 February 2021
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08 Dec 2020 2 min read
QuotedData’s morning briefing 8 December 2020
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26 Nov 2020 2 min read
QuotedData’s morning briefing 26 November 2020
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23 Mar 2020 2 min read
Greencoat Renewables to make first investment into continental Europe with 51.9MW France deal
Greencoat Renewables (GRP) has made its first investment in continental Europe after reaching an agreement to acquire 51.9MW of operating wind capacity in France. The portfolio of operating wind assets is being acquired from John Laing Group for a total consideration of €30.3m. This will take GRP’s total installed capacity to 528.1MW Entering France’s stable and supportive […]
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02 Mar 2020 2 min read
Greencoat Renewables looks to add Nordic markets to its mandate
Over Greencoat Renewables’s (GRP) full-year results period to year-ended 31 December 2019, the Ireland-focused renewable energy infrastructure company grew considerably with two successful equity placings taking its market capitalisation from €391.4m to €747.3m. Portfolio-wise, GRP said its stable of 15 wind farms generated 1,154GWh in the year, 4% below budget, primarily due to higher than expected curtailment. […]
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17 Feb 2020 1 min read
QuotedData’s other news 17 February 2020
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29 Jan 2020 1 min read
Renewable energy funds under attack from brokers
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10 Dec 2019 1 min read
QuotedData’s other news 10 December 2019
In QuotedData’s other news 10 December 2019 Greencoat Renewables raised €125m in an oversubscribed placing of new shares. 110,619,469 shares to be issued at €1.13. The money will be used to pay down debt and buy additional assets. We also have stories on a German offshore wind acquisition by The Renewables Infrastructure Group, SEGRO selling a […]
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27 Nov 2019 1 min read
Ireland-focused Greencoat Renewables adds 14.0MW wind farm
Ireland-focused Greencoat Renewables adds 14.0MW wind farm – Greencoat Renewables (GRP), the Irish renewable infrastructure company, has acquired Beam Hill Wind Farm, a 14.0MW wind farm situated in County Donegal for a consideration of €10.5m. This brings Greencoat Renewables’ portfolio of operational wind assets to 461MW. The wind farm consists of 8 Vestas V66 turbines that […]
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21 Nov 2019 2 min read
Greencoat Renewables targets EUR100m with launch of initial placing
Greencoat Renewables targets EUR100m with launch of initial placing – Greencoat Renewables (GRP), the Ireland-focused renewable infrastructure company, is looking to raise approximately EUR100m through an initial placing to provide the company with greater financial capacity to continue to take advantage of an active secondary market for wind assets in Ireland and to pursue identified opportunities […]
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18 Nov 2019 1 min read
Greencoat Renewables acquires 20.4MW Killala community wind farm
Greencoat Renewables acquires 20.4MW Killala community wind farm – Greencoat Renewables (GRP), the Irish renewable infrastructure company has announced it has acquired Killala Community Wind Farm, a 20.4MW wind farm situated in County Mayo. The project consists of 5 Siemens 3.4MW turbines that have been operational since July 2019. An additional Siemens 3.4MW turbine is […]
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04 Mar 2019 2 min read
Greencoat plans fundraise after transformational year
Greencoat plans fundraise after transformational year – Greencoat Renewables has published its first set of results since listing. Highlights are: Acquisition of ten wind generation assets during 2018, increasing the portfolio to twelve wind farms in total, and increasing net generating capacity from 137MW to 384MW €883.5 million of gross asset value as at 31 […]
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10 Dec 2018 1 min read
Greencoat Renewables acquires two wind farms for €88m
Greencoat Renewables has announced that it has acquired two windfarms, Monaincha and Garranereagh, for €88m. The seller is BlackRock Real Assets and the purchase is being funded by Greencoat renewables revolving credit facility of €380m. The transaction is expected to close by the end of December 2018 and the two farms combined have a 45.2MW […]
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29 Oct 2018 1 min read
Greencoat Renewables buys Ballybane Wind Farm
Greencoat Renewables buys Ballybane Wind Farm – Greencoat Renewables has announced the acquisition of Ballybane, a 48.3MW wind farm situated in County Cork. The wind farm was acquired from an independent local developer for a total consideration of €61.3m. This brings Greencoat Renewables’ portfolio of operational wind farms to 251MW capacity. Ballybane wind farm consists of 21 […]
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12 Sep 2018 3 min read
Greencoat Renewables agrees to acquire four wind farms in Ireland
Greencoat Renewables agrees to acquire four wind farms in Ireland – Greencoat Renewables (GRP) has agreed to acquire the majority of Coillte’s shareholdings in its portfolio of operating wind generation assets, for a total consideration of €136.1 million. The investments total a net generating capacity of 105.1MW, taking Greencoat Renewables’ total installed capacity to 299MW. About Coillte Coillte […]
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20 Feb 2018 1 min read
Greencoat Renewables buys Lisdowney wind farm
Greencoat Renewables buys Lisdowney wind farm – Greencoat Renewables has announced the acquisition of Lisdowney, a 9.2MW wind farm situated in County Kilkenny, for a total consideration of EUR22.5 million. Lisdowney wind farm consists of four Enercon E82 turbines. The wind farm was commissioned in November 2016 and its revenues are contracted under the REFIT […]
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21 Dec 2017 2 min read
Greencoat Renewables makes its first acquisition and announces a new €250m RCF
Dromadda More Wind Farm acquired for €88.4m Greencoat Renewables, which listed on the AIM segment of the London Stock Exchange on 25 July 2017, has announced that it has acquired the 36MW Dromadda More wind farm, from Impax Asset Management, for an all in cost of €88.4m. Dromadda More is Greencoat Renewables first acquisition since […]
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22 Feb 2016 2 min read
Greencoat sees strong wind generation offset lower power prices
Greencoat UK Wind has announced its annual results for the year ended 31 December 2015. During the period, the company’s NAV per share grew by 0.48% to 104.5p but, including dividend (6.26p) the company has provided an NAV total return of 6.6%. During the year, portfolio power generation was 8% above budget at 799.3GWh (the […]
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09 Jul 2015 1 min read
Budget changes to Climate Change Levy hit Renewables
Changes in yesterday’s budget in relation to the Climate Change Levy (removal of Climate Change Levy exemption) for renewable electricity have had a knock-on effect on the net asset values of companies operating in the renewable energy sector as it changes the assumptions used to calculate them. Greencoat UK Wind says it was already factoring […]
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30 Apr 2024 1 min read
Income investment trusts yielding above 4% and beating inflation
by Kyle Caldwell from interactive investor, 30th April 2024: For income-seeking investors, the ideal scenario is to find a fund with a high yield that delivers inflation-beating dividend growth and produces positive total returns (capital growth and income returns combined). However, ticking all three boxes is hard to consistently achieve, which is reflected in research […]
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25 Sep 2023 1 min read
Bargain Hunter: these trusts are usually pricey, but are now cheap
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07 Aug 2023 1 min read
Infrastructure and renewables – big yields, big discounts
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07 Jun 2023 1 min read
Renewable energy investment trust faces continuation vote
by Sam Benstead from interactive investor, 7th June 2023: The London market’s only Europe-focused renewable energy investment trust faces the risk of being wound up, with investors set to vote on its continuation on 14 June., which was launched in summer 2019, owns solar, hydro and wind renewable energy assets across Europe, with a particular […]
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01 Jun 2023 1 min read
Investment trusts ditch their ‘inflation protection’ tag
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06 Mar 2018 1 min read
Investment Trust Insider on Bluefield Solar
Investment Trust Insider on Bluefield Solar – James Carthew: the high-yield solar fund basking in UK’s rays With the ‘Beast from the East’ receding it is time to think about spring and sunshine, specifically Bluefield Solar Income Fund (BSIF), the only one of the renewable energy investment companies I own. It has been a great […]
