Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

Greencoat UK Wind (UKW)

Share latest information on individual companies and hot news discussions. LSE Main Market companies only
Forum rules
No penny shares or promotional posts
monabri
Lemon Half
Posts: 8396
Joined: January 7th, 2017, 9:56 am
Has thanked: 1539 times
Been thanked: 3428 times

Greencoat UK Wind (UKW)

#426222

Postby monabri » July 9th, 2021, 5:07 pm

https://www.investegate.co.uk/greencoat ... 40468212E/

'' Greencoat UK Wind PLC, the leading listed renewable infrastructure fund, invested in operating UK wind farms, advises that on Thursday 29 July 2021 it will announce its Net Asset Value as of 30 June 2021, the quarterly dividend and publish half-year results for the period to 30 June 2021.

This announcement replaces RNS number 7196D released on 1 July 2021, which incorrectly recorded the Net Asset Value, quarterly dividend and half-year results announcement date as 28 July 2021.''

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#426232

Postby idpickering » July 9th, 2021, 5:39 pm

Thanks for the above monabri, and for starting this new board. I hold UKW in my HYP, not only for the 5% plus yield it offers, but the added diversification they bring to my HYP. I intend bringing The Renewables Infrastucture Group (TRIG) on board my HYP to sit alongside UKW in the overall sector too. Living where we do in Orkney, wind farms etc are a common feature. We even benefit from a wind turbine at the back of our house. ;)

Ian.

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1195 times
Been thanked: 1280 times

Re: Greencoat UK Wind (UKW)

#426258

Postby richfool » July 9th, 2021, 8:01 pm

I'll suggest this (new) topic is merged into the existing topic:

viewtopic.php?t=17767

daveh
Lemon Quarter
Posts: 2191
Joined: November 4th, 2016, 11:06 am
Has thanked: 409 times
Been thanked: 807 times

Re: Greencoat UK Wind (UKW)

#426271

Postby daveh » July 9th, 2021, 8:58 pm

richfool wrote:I'll suggest this (new) topic is merged into the existing topic:

viewtopic.php?t=17767

Except this is a different board. I see no reason why UKW shouldn't have a thread here on the company share board and a thread on investment trusts board.

Dod101
The full Lemon
Posts: 16629
Joined: October 10th, 2017, 11:33 am
Has thanked: 4343 times
Been thanked: 7534 times

Re: Greencoat UK Wind (UKW)

#426281

Postby Dod101 » July 9th, 2021, 9:27 pm

daveh wrote:
richfool wrote:I'll suggest this (new) topic is merged into the existing topic:

viewtopic.php?t=17767

Except this is a different board. I see no reason why UKW shouldn't have a thread here on the company share board and a thread on investment trusts board.


It will after all, help to confuse the issue, so why not?

Dod

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#426320

Postby idpickering » July 10th, 2021, 3:56 am

Dod101 wrote:
daveh wrote:
richfool wrote:I'll suggest this (new) topic is merged into the existing topic:

viewtopic.php?t=17767

Except this is a different board. I see no reason why UKW shouldn't have a thread here on the company share board and a thread on investment trusts board.


It will after all, help to confuse the issue, so why not?

Dod


Imho, discussing UKW here is fine. I never go to the IT board so i would’ve missed this chat completely.

Ian.

88V8
Lemon Half
Posts: 5769
Joined: November 4th, 2016, 11:22 am
Has thanked: 4098 times
Been thanked: 2560 times

Re: Greencoat UK Wind (UKW)

#426382

Postby 88V8 » July 10th, 2021, 11:43 am

idpickering wrote:Imho, discussing UKW here is fine. I never go to the IT board so i would’ve missed this chat completely.

But you've started to buy ITs, so perhaps you will in future :)

I agree it's not a problem to discuss Cos in two places, we seem to manage with HYPP and the Companies boards.

V8

richfool
Lemon Quarter
Posts: 3492
Joined: November 19th, 2016, 2:02 pm
Has thanked: 1195 times
Been thanked: 1280 times

Re: Greencoat UK Wind (UKW)

#426403

Postby richfool » July 10th, 2021, 12:23 pm

daveh wrote:
richfool wrote:I'll suggest this (new) topic is merged into the existing topic:

viewtopic.php?t=17767

Except this is a different board. I see no reason why UKW shouldn't have a thread here on the company share board and a thread on investment trusts board.

I would have looked for it on the Investment Trust board, as UKW is listed in the AIC and Citywire Investment Trust tables. (TBH It wouldn't have occurred to me to look anywhere else.)

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#431090

Postby idpickering » July 29th, 2021, 7:31 am

Half Year Results, NAV & Dividend Announcement

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.



https://www.investegate.co.uk/greencoat ... 00068163G/

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#445940

Postby idpickering » September 28th, 2021, 2:04 pm

Acquisition of Andershaw wind farm

Greencoat UK Wind PLC (the "Company", or "UKW") is pleased to announce that it has agreed to acquire Andershaw wind farm from Statkraft UK Limited ("Statkraft") for a total consideration of 121m (including cash and working capital).

Andershaw is a 35MW wind farm located 2 miles south of Douglas in South Lanarkshire and comprises 11 Vestas V117 3.3MW turbines. The wind farm was commissioned in February 2017, has a load factor of 34.8% and benefits from 0.9 ROCs per MWh. The wind farm has entered into a power purchase agreement with Statkraft until 2037 who will also provide management services to the wind farm.

The acquisition will be funded using the Company's revolving credit facility and gearing will increase to £1,050m of outstanding debt, equating to 30% of Gross Asset Value.

Shonaid Jemmett-Page, Chairman of UKW, commented: "We are delighted to announce the acquisition of Andershaw wind farm. This transaction grows our portfolio to 39 wind farms with a generating capacity of 1,244MW. Our pipeline of potential acquisitions remains healthy and we look forward to adding further attractive growth opportunities in due course as we continue to play our role in helping to decarbonise the UK economy."


https://www.investegate.co.uk/greencoat ... 00021210N/

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#446609

Postby idpickering » September 30th, 2021, 2:26 pm

Completion of Commissioning of Douglas West

Greencoat UK Wind PLC (the "Company", or "UKW") is pleased to announce that the commissioning of Douglas West wind farm has been completed.

Douglas West is a 45MW wind farm located 7 miles south-west of Lanark, Scotland and comprises 13 Vestas V136 3.6MW turbines. The addition of Douglas West increases UKW's net generating capacity to 1,289MW and is the first subsidy free asset in the portfolio.

The acquisition was first announced in December 2018 and the project has been funded through reinvestment of UKW's excess cash flow.


https://www.investegate.co.uk/greencoat ... 00375938N/

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#448332

Postby idpickering » October 6th, 2021, 4:41 pm

Capital Markets Event

Greencoat UK Wind PLC (the "Company", or "UKW") will hold a virtual briefing for investors and analysts on 'Driving shareholder value through active asset management' on Tuesday 19 October at 2.00pm BST.

The webinar will provide insight on how UKW actively manages its wind farm assets to deliver further value in its portfolio, with presentations from Stephen Lilley and Javier Serrano of Greencoat Capital. The event will include a 30 minute presentation followed by a Q&A. No new material financial information will be disclosed.

To register for the event, please click on the link below:

https://webcasting.brrmedia.co.uk/broad ... 5a941907f7


https://www.investegate.co.uk/greencoat ... 00131275O/

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#455029

Postby idpickering » November 2nd, 2021, 7:20 am

Acquisition and Launch of Equity Raise

Investment in Burbo Bank Extension offshore wind farm and Launch of Equity Raise

Greencoat UK Wind plc (the "Company" or "UKW"), the leading listed renewable infrastructure fund, invested in UK wind farms, is pleased to announce that it has agreed to acquire a 25% stake in Burbo Bank Extension offshore wind farm from AIP, in partnership with a number of pension funds investing through Greencoat Renewable Income LP, a fund also managed by Greencoat Capital. UKW will acquire a net 15.7% stake in the wind farm for a total cash consideration (including cash and working capital) of £250 million (the "Acquisition"). The Acquisition is scheduled to complete on 30 November 2021.

Burbo Bank Extension is located four miles north of the Wirral in North West England. It was commissioned in July 2017, comprises 32 Vestas V164 8.13MW turbines and has a grid capacity of 258MW. Burbo Bank Extension, has a load factor of 43.8% and benefits from a CFD priced at £176.57/MWh (real 2021) until 31 March 2032. Orsted will provide operation and maintenance and management services to the wind farm.

The Acquisition will be funded using the Company's revolving credit facility, cashflow and the proceeds of a new equity raise launching today, further details below.

The Equity Raise

The Company is also today announcing an equity raise through a placing (the "Placing"), open offer (the "Open Offer"), intermediaries offer (the "Intermediaries Offer") and offer for subscription (the "Offer for Subscription") (together the "Issue"). The prospectus ("Prospectus") relating to the Issue is expected to be published in the coming days.

The net proceeds from the Issue are expected to be used to fund the Acquisition and repay amounts drawn under the Company's Facility Agreement (as defined in the Prospectus), thereby funding an attractive pipeline of investment opportunities, including near-term committed investments in Windy Rig, Twentyshilling and Glen Kyllachy.

Facility Agreement

The Company also recently increased its Facility Agreement from £400 million to £600 million. This is in addition to the Company's existing £700 million of fixed term debt. Following the completion of the Acquisition, the Company expects to have c. £1.3 billion of drawn Aggregate Group Debt, equating to c. 34% of GAV.


https://www.investegate.co.uk/greencoat ... 00039933Q/

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#460734

Postby idpickering » November 25th, 2021, 7:18 am

Result of Equity Raise and Tap Issue

Greencoat UK Wind PLC (the "Company" or "UKW"), the leading listed renewable infrastructure fund invested in operating UK wind farms, today announces the result of the placing (the "Placing"), open offer (the "Open Offer"), intermediaries offer (the "Intermediaries Offer") and offer for subscription (the "Offer for Subscription") (together the "Issue") announced on 2 November 2021.

Investor demand for the Issue has significantly exceeded the maximum size of £396 million. The Board, after careful consideration with the Investment Manager and the Joint Global Co-Ordinators, has determined to utilise part of its annual pre-emption disapplication authority to satisfy £54 million of the excess demand on equivalent terms to the Placing (the "Tap Issue"). Accordingly, the total size of the Issue when aggregated with the Tap Issue will be £450 million.

In taking this decision, the Board has taken into account the drawn amount on the Company's Facility Agreement of £350 million and the £400 million of investment commitments expected to be made by January 2022.

Highlights

§ Gross issue proceeds of £450 million

§ The net proceeds from the Issue will be used to fund the £250 million investment in the Burbo Bank Extension offshore wind farm and partially repay the Company's Facility Agreement which is currently £350 million drawn, thereby facilitating the funding of an attractive pipeline of investment opportunities, including near-term committed investments in Windy Rig, Twentyshilling and Glen Kyllachy

§ The Issue is conditional on shareholders voting in favour of the resolutions proposed at the General Meeting to be held at 11.00 a.m. on 26 November 2021

Commenting on the announcement, Shonaid Jemmett-Page, Chairman of UKW said: "We are delighted to announce another successful and oversubscribed equity raise and we are grateful for the ongoing support we have received. We look forward to maintaining our track record of dependable returns to shareholders."

Stephen Lilley of Greencoat Capital added: "This capital raise will help fund the investment in Burbo Bank Extension along with our previously announced commitments to invest in Windy Rig, Twentyshilling and Glen Kyllachy, currently being commissioned. We continue to see a strong pipeline of attractive investment opportunities."

A total of 340,909,091 New Ordinary Shares will be issued, of which 147,975,902 will be issued under the Placing, 132,755,455 will be issued under the Open Offer (including Excess Applications), 19,268,643 will be issued under the Intermediaries Offer and Offer for Subscription, and 40,909,091 will be issued under the Tap Issue.

All valid applications under the Open Offer (excluding Excess Applications) will be met in full. A scaling back exercise has been undertaken with respect to Excess Applications, the Offer for Subscription, the Intermediaries Offer and the Placing.

Application for Admission

Application will be made for all of the 340,909,091 New Ordinary Shares to be admitted to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities with effect from 8.00 a.m. on 29 November 2021.


https://www.investegate.co.uk/greencoat ... 00035214T/

Gerry557
Lemon Quarter
Posts: 2003
Joined: September 2nd, 2019, 10:23 am
Has thanked: 172 times
Been thanked: 542 times

Re: Greencoat UK Wind (UKW)

#460774

Postby Gerry557 » November 25th, 2021, 10:14 am

I asked for excess over the entitlement so expect to be scaled back.

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#467715

Postby idpickering » December 21st, 2021, 7:38 am

Statement regarding ownership of Greencoat UK Wind's Investment Manager

The Board of Greencoat UK Wind plc notes the announcement from Schroders plc that it has agreed to acquire a 75% shareholding in Greencoat Capital, the investment manager of Greencoat UK Wind.

There is no change expected to the relationship with the investment manager, and the Greencoat Capital team that has led Greencoat UK Wind for the past nine years will remain in place. There is also no change to the investment strategy, which continues to be overseen by the Board and approved by the shareholders.

The Board welcomes the transaction, and the additional capabilities which Schroders will bring to Greencoat Capital.


https://www.investegate.co.uk/greencoat ... 15022726W/

Re Schroders'' announcement, see here;

https://www.investegate.co.uk/schroders ... 00053212W/

I hold Schroders and UKW. My account is set to top up my UKW holdings in this coming January.

Ian.

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#471661

Postby idpickering » January 10th, 2022, 7:27 am

Completion of Acquisitions and Term Debt Facility

Greencoat UK Wind PLC ("the Company" or "UKW") is pleased to announce that the commissioning of Windy Rig and Glen Kyllachy wind farms and their subsequent acquisitions have been completed.

Windy Rig is a 43.2MW subsidy free project located near Castle Douglas in Dumfries & Galloway and comprises 12 Vestas V112 3.6MW turbines.

Glen Kyllachy is a 48.5MW subsidy free project located in the Highlands, 11 miles south of Inverness and comprises 20 Nordex N90 2.5MW turbines.

The addition of Windy Rig and Glen Kyllachy increases UKW's net generating capacity to 1,422MW and the number of subsidy free assets in UKW's portfolio to three from a total of 43 operating wind farms.

The acquisitions were first announced in October 2019 and December 2019 respectively and both projects have been funded through reinvestment of excess cashflow and proceeds from the Equity Raise in November 2021.

Additionally, UKW has entered into an agreement with AXA to provide an 8-year £200 million debt facility which will be used to repay the revolving credit facility. This will enable UKW to continue to capitalise on the strong pipeline of opportunities in the UK wind farm market, both onshore and offshore.

The Company is also pleased to share footage of a turbine climb undertaken last year and referenced in the recent Capital Markets Event.


https://www.investegate.co.uk/greencoat ... 00088331X/

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#482455

Postby idpickering » February 24th, 2022, 7:25 am

Final Results Announcement

2021 Highlights

Generation

· The Group's investments generated 2,933GWh of sustainable electricity.

· Net cash generation (Group and wind farm SPVs) was £256.8 million.

High quality investments and oversubscribed equity raises

· Acquisition of the remaining 50 per cent interest in Braes of Doune, investments in Andershaw, Burbo Bank Extension, Windy Rig and Glen Kyllachy, and the commissioning of Douglas West increased the portfolio to 43 operating wind farm investments and net generating capacity to 1,422MW as at 31 December 2021.

· Issuance of further shares raising £648 million through oversubscribed equity raisings in February 2021 and November 2021.

Dividends and balance sheet

· The Company has declared total dividends of 7.18 pence per share with respect to the year and is targeting a dividend of 7.72 pence per share for 2022 (increased in line with December 2021 RPI).

· £950 million outstanding borrowings as at 31 December 2021, equivalent to 23 per cent of GAV.

And later;

Dividends and Returns

Declared dividends for the year total 7.18 pence per share, with the fourth and final quarterly dividend of 1.795 pence per share to be paid on 25 February 2022. With our continuing strong cash flow and robust dividend cover we can confidently target a dividend of 7.72 pence per share with respect to 2022, increased in line with December's RPI of 7.5 per cent.

NAV per share increased from 120.4 pence per share (ex dividend) on 31 December 2020 to 131.7 pence per share (ex dividend) on 31 December 2021, an increase of 11.3 pence (9.4 per cent) during the year, primarily reflecting high short term power prices. Since listing, NAV has increased by more than RPI.

The Total Shareholder Return for the year was 10.7 per cent.



https://www.investegate.co.uk/greencoat ... 00076331C/

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#497520

Postby idpickering » April 29th, 2022, 4:26 pm

Flash update from Kepler Trust Intelligence.

Greencoat UK Wind (UKW) stands out from the peer group as the only pure play wind trust, exposed solely to the UK. It has a relatively simple model, which aims to invest in wind farms at attractive rates of return, and over time use around two-thirds of cashflows to pay a dividend that rises with inflation each year, as well as re-invest the remaining third of annual cashflows to preserve the capital base in real terms. In an average year, this allows for a strong level of dividend cover. And it is this dividend cover that allows the managers to run an 'un-hedged' exposure to power prices, yet still be confident of hitting the board's dividend target.

At times this has looked to be a potential disadvantage (when power prices crashed in the early stages of the pandemic for example). However, UKW has been a significant beneficiary of the very high wholesale electricity prices we are currently experiencing. This benefit has come through excess cashflows at roughly twice the "model" rate (3p net of depreciation for the quarter), but also through a 5.2% NAV increase as a result of higher forward power prices (for the period 2022-2025) increasing the value of the trust's assets.

Rising assumptions for 2022 inflation (but no further out) has also led to a significant 4.5% increase in NAV. Cumulatively, and when added together this has resulted in a very strong NAV, which will be welcomed by shareholders. It also provides credence to the manager's approach, which even before this announcement had provided the strongest NAV total returns in the peer group.

UKW's dividend target of 7.72p for 2022 offers shareholders a prospective dividend yield of 4.85%. At the current share price of 159p, the shares trade at a premium to NAV of 6.5%, which compares to the average over the last five years of 11.8% (Source: Morningstar).

CLICK HERE TO READ THE FULL REPORT

Visit http://www.trustintelligence.co.uk/investor for more high quality independent investment trust research.


https://www.investegate.co.uk/greencoat ... 42148949J/

Ian.

idpickering
The full Lemon
Posts: 11276
Joined: November 4th, 2016, 5:04 pm
Has thanked: 2468 times
Been thanked: 5763 times

Re: Greencoat UK Wind (UKW)

#500669

Postby idpickering » May 16th, 2022, 7:13 am

Investment in Hornsea 1 offshore wind farm.

Greencoat UK Wind plc (the "Company" or "UKW"), the leading listed renewable infrastructure fund, invested in UK wind farms, is pleased to announce that it has agreed to acquire a net 12.5% stake in Hornsea 1 offshore wind farm from Global Infrastructure Partners ("GIP") for a total cash consideration (including cash and working capital) of approximately £400 million. The acquisition is expected to complete in Q3 2022.

Hornsea 1 is the world's largest offshore wind farm and is located 80 miles off the Yorkshire coast in the North Sea. It comprises 174 Siemens 7MW turbines and has a grid export capacity of 1,200MW (the world's first offshore wind farm to exceed 1GW). Hornsea 1 entered into full commercial operation in December 2019, has a high load factor and benefits from a 15 year CFD at a price of £175.25/MWh (real 2022).

Hornsea 1 is currently 50% owned by Orsted and 50% owned by GIP, with GIP's 50% stake part funded by £2.9 billion of limited recourse debt. UKW's pro rata share of this limited recourse debt is £0.7 billion, giving a total enterprise value of £1.1 billion for UKW's net 12.5% stake. Orsted will continue to provide operation, maintenance and management services to the wind farm.

The acquisition is expected to be funded from cash flow and, to the extent required, the Company's revolving credit facility.

Shonaid Jemmett-Page, Chairman of the Company, said:

"As the leading independent UK wind farm owner, we are pleased to announce our investment into the world's largest offshore wind farm. Hornsea 1 has a high load factor and high CFD price which complements our subsidy free investments.

"This transaction, once completed, will add another high quality operating asset to our portfolio and increase our net generating capacity to over 1.6GW.

"We continue to see an attractive pipeline of projects, both onshore and offshore, and given the size and scale that the Company has attained over recent years, we remain strongly positioned to deliver more value-accretive acquisitions and extend our track record of strong shareholder returns."


https://www.investegate.co.uk/greencoat ... 00055225L/

Ian.


Return to “Company Share news (LSE Main Market)”

Who is online

Users browsing this forum: ekipazh and 10 guests