Greencoat UK Wind PLC today announces the half year results for the period to 30 June 2021.

Greencoat UK Wind PLC is the leading listed renewable infrastructure fund, invested in UK wind farms. The Company's aim is to provide investors with an annual dividend that increases in line with RPI inflation while preserving the capital value of its investment portfolio in the long term on a real basis through reinvestment of excess cashflow and the prudent use of gearing.

The Company provides investors with the opportunity to participate directly in the ownership of UK wind farms, so increasing the resources and capital dedicated to the deployment of renewable energy and the reduction of greenhouse gas emissions.

Highlights

• The Group's investments generated 1,476GWh of zero carbon electricity.
• Net cash generation (Group and wind farm SPVs) was £103.6 million.
• Acquisition of the remaining 50 per cent interest in Braes of Doune wind farm increased net generating capacity to 1,209MW as at 30 June 2021.
• Issuance of further shares raising £198 million.
• The Company declared total dividends of 3.59 pence per share with respect to the period.
• £940 million outstanding borrowings as at 30 June 2021, equivalent to 28 per cent of GAV.

Commenting on today's results, Shonaid Jemmett-Page, Chairman of Greencoat UK Wind, said:

We are pleased to report another solid performance and continued strong cash generation as we deliver against our simple, low risk strategy.

During the period we acquired the remaining 50 per cent of Braes of Doune wind farm, increasing our net generating capacity to over 1.2GW. We were also pleased with the strong support shown by both existing and new investors in February's oversubscribed share placing.

Gearing remains conservative at 28 per cent of GAV and the Group is fully funded to execute our commitments to acquire Windy Rig, Twentyshilling and Glen Kyllachy as each commences commercial operation later this year, which will add a further 130MW of generating capacity to our portfolio of high quality assets.

NAV

The Company announces that its unaudited Net Asset Value as at 30 June 2021 is £2,474.1 million (125.2 pence per share).

Dividend Announcement

The Company also announces a quarterly dividend of 1.795 pence per share in respect of the period from 1 April 2021 to 30 June 2021.

Dividend Timetable

Ex-dividend date:        12 August 2021

Record date:               13 August 2021

Payment date:             27 August 2021

Key Metrics

As at 30 June 2021: