Greencoat UK Wind PLC Acquisitions (0921Q)
24 Febbraio 2021 - 8:00AM
UK Regulatory
TIDMUKW
RNS Number : 0921Q
Greencoat UK Wind PLC
24 February 2021
24 FEBRUARY 2021
Greencoat UK Wind PLC
Acquisitions
Greencoat UK Wind PLC ("UKW" or the "Company") is pleased to
announce that it has acquired the remaining 50% interest in Braes
of Doune wind farm from Funds managed by the infrastructure team of
the international business of Federated Hermes for a consideration
of GBP48.1m.
Braes of Doune is located in Stirlingshire, Scotland and
comprises 36 Vestas V80 2MW turbines, with a total capacity of
72MW. The wind farm was commissioned in June 2007 and receives 1
ROC per MWh. UKW now owns 100% of the wind farm, having acquired
its original 50% stake at IPO in March 2013.
The Company is also pleased to announce that it has entered into
an agreement with Banks Renewables Limited ("Banks Renewables") to
acquire a 49.9% interest in Kype Muir Extension wind farm for a
headline consideration of GBP51.4m, to be paid once the wind farm
is fully operational (target Q4 2022). UKW will also provide
construction finance of up to GBP47m, with first utilisation
expected in July 2021.
Kype Muir Extension is located in South Lanarkshire, Scotland
and will comprise 4 Nordex 3.6MW turbines plus 11 Nordex 4.8MW
turbines, with a total capacity of 67.2MW. The wind farm is subsidy
free and will benefit from a 15 year fixed power price agreement
with a utility.
Following its recently completed share placing, raising gross
issue proceeds of GBP198m, and following its acquisition of the
incremental interest in Braes of Doune, the Company intends to
repay GBP160m of its revolving credit facility ("RCF"), reducing
borrowings under the RCF from GBP400m to GBP240m. Together with
GBP700m of term debt, total borrowings will be GBP940m, equating to
28% of Gross Asset Value.
Stephen Lilley of Greencoat Capital LLP commented: "We are
delighted to acquire the remaining 50% of Braes of Doune, a high
quality, ROC-accredited asset, in which we have been invested since
March 2013. We are also excited to be partnering with Banks
Renewables on Kype Muir Extension and look forward to acquiring
49.9% of the project in Q4 2022."
For further information, please contact:
Greencoat UK Wind PLC 020 7832 9425
Stephen Lilley
Laurence Fumagalli
Tom Rayner
Headland Consultancy 020 3805 4822
Stephen Malthouse
Rob Walker
Charlie Twigg
Notes to Editors:
Greencoat UK Wind PLC ("UKW") is the leading listed renewable
infrastructure fund, which has invested in 38 operating UK wind
farms with net generating capacity of 1,209MW (including the
incremental acquisition of 50% of Braes of Doune). The Company's
aim is to provide investors with an annual dividend that increases
in line with RPI inflation (7.18p for 2021) while preserving the
capital value of its investment portfolio in the long term on a
real basis through reinvestment of excess cash flow and the prudent
use of gearing.
UKW is managed by an experienced team at Greencoat Capital LLP,
a leading European renewable investment manager with over GBP6
billion of assets under management. UKW is governed by a strong and
experienced independent board.
UKW is incorporated in England and Wales and is a UK Investment
Trust.
For more information about UKW, please visit
http://www.greencoat-ukwind.com
For more information about Greencoat Capital LLP, please visit
http://www.greencoat-capital.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQEAKADAFAFEFA
(END) Dow Jones Newswires
February 24, 2021 02:00 ET (07:00 GMT)
Grafico Azioni Greencoat Uk Wind (LSE:UKW)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Greencoat Uk Wind (LSE:UKW)
Storico
Da Apr 2023 a Apr 2024