Greencoat Renewables : GRP

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