Highlights

• The Group's investments generated 951GWh of electricity.
• Net cash generation (Group and wind farm SPVs) was £67.4 million.
• Acquisition of Brockaghboy and an additional interest in Clyde increased the portfolio to 30 wind farm investments, net generating capacity to 785MW and GAV to £1,684.9 million as at 30 June 2018.
• Issuance of further shares raising £118.8 million in May 2018.
• The Company declared total dividends of 3.38 pence per share with respect to the period.
• £395 million outstanding borrowings as at 30 June 2018, equivalent to 23 per cent. of GAV.

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

We are pleased to report continued solid performance of our portfolio, with good cash generation, an increase in the dividend and strong dividend cover.

During the period, we invested a further £277 million, increasing net generating capacity to 785MW. Acquiring Brockaghboy, a 47.5MW wind farm in Northern Ireland, and exercising our option to increase our shareholding in the Clyde wind farms demonstrates the breadth of investment opportunities available to us given our scale.

We were also pleased with the strong support shown by both existing and new investors in May's oversubscribed share placing. With gearing at 23% of GAV, we are well placed to take advantage of the attractive pipeline of growth opportunities available to us.