Greencoat UK Wind plc (the "Company" or "UKW"), the leading listed renewable infrastructure fund invested in UK wind farms, today announces the result of the Initial Placing and Initial Offer for Subscription under its Share Issuance Programme, as announced on 3 September 2020.

Highlights

• Gross Issue Proceeds of £400 million.
• The net proceeds will be primarily applied to prepay borrowings under the Company's Facility Agreement resulting in total borrowings of £600 million, equivalent to approximately 21% of GAV.
• 305,343,511 New Ordinary Shares will be issued, increasing total Ordinary Shares to 1,823,818,744.

Commenting on the announcement, Shonaid Jemmett-Page, Chairman of UKW said:

We are grateful for the ongoing support from our shareholders, which has led to another successful and oversubscribed equity capital raise. Our simple, low risk model continues to deliver and we look forward to maintaining our track record of dependable returns to shareholders.

Stephen Lilley of Greencoat Capital added:

Following our investment in Walney, a large scale and high load factor offshore wind farm, this equity capital raise will enable UKW to reduce gearing and continue to capitalise on the strong pipeline of attractive investments in the UK wind farm market.