Highlights

• The Group's investments generated 1,145GWh of electricity.
• Net cash generation (Group and wind farm SPVs) was £67.5 million.
• Acquisition of 3 further wind farms increased the portfolio to 35 operating wind farm investments, net generating capacity to 979MW and GAV to £2,443.1 million as at 30 June 2019.
• Acquisition of the 45MW Douglas West subsidy free wind farm project, expected to become operational in 2021.
• Issuance of further shares raising £505.7 million in the period.
• The Company declared total dividends of 3.47 pence per share with respect to the period.
• £575 million outstanding borrowings as at 30 June 2019, equivalent to 24 per cent of GAV.

Commenting on today's results, Tim Ingram, Chairman of Greencoat UK Wind, said:

I am pleased to report another good first half performance, which reflects the continued delivery of our simple, low risk and proven strategy. The solid performance and cash generative nature of our portfolio has enabled us once more to increase our dividend in line with RPI whilst maintaining strong dividend cover.

During the period we made three high quality investments, including a £452 million investment in Stronelairg and Dunmaglass wind farms and £145 million in Tom nan Clach, which have grown our generating capacity to 979MW. We were also pleased to raise over £500 million from existing and new shareholders, and we are grateful for their continued support.

The pipeline of acquisitions remains healthy and with gearing at 24 per cent of GAV, we are well placed to take advantage of the attractive growth opportunities available to us.