Greencoat UK Wind PLC Acquisition of new assets (1789V)
November 01 2017 - 3:00AM
UK Regulatory
TIDMUKW
RNS Number : 1789V
Greencoat UK Wind PLC
01 November 2017
1 November 2017
Greencoat UK Wind plc
Increase in Greencoat UK Wind's net generating capacity to
694MW
Greencoat UK Wind PLC ("UKW") is pleased to announce that it has
acquired an 80% stake in five wind farms from EDF Energy Renewables
("EDF ER") for a total consideration of GBP98 million (including
GBP7 million cash and working capital).
All five wind farms are situated within 25 miles of
Peterborough, and in total comprise 47 Senvion 2.05MW MM82
turbines.
Capacity (MW) Commissioning
Date
------------ -------------- --------------
Deeping St 16.4 June 2006
Nicholas
------------ -------------- --------------
Red House 12.3 June 2006
------------ -------------- --------------
Glass Moor 16.4 June 2006
------------ -------------- --------------
Red Tile 24.6 April 2007
------------ -------------- --------------
Bicker Fen 26.7 September
2008
------------ -------------- --------------
Total 96.4
------------ -------------- --------------
The weighted average net load factor of the five wind farm
portfolio is 25%.
The portfolio will sell power and ROCs to, and the turbines will
be operated and maintained by, the EDF group, which will also
provide asset management services. EDF ER will retain a 20%
interest in the portfolio.
Tim Ingram, Chairman of UKW, commented: "Following on from our
recent further share issue, we are pleased to acquire assets from a
tenth seller, a third major utility partnership, demonstrating
UKW's reach across the market in finding value for investors."
The acquisitions were funded by UKW's acquisition facility.
Following completion of the acquisitions, UKW's total borrowings
will amount to GBP265 million, equivalent to 19% 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 (Media Enquiries)
Rob Walker 020 3805 4822
Notes to Editors:
Greencoat UK Wind PLC is the leading listed renewable
infrastructure fund, invested in 29 operating UK wind farms with
net generating capacity of 694MW (including the acquisition of
Deeping St Nicholas, Red House, Glass Moor, Red Tile and Bicker
Fen). The Company's aim is to provide investors with an annual
dividend that increases in line with RPI inflation (6.49p for 2017)
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 portfolio 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
END
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