Greencoat UK Wind
To invest mostly in operating UK wind farms with the aim to provide investors with an annual dividend that increases in line with RPI inflation while preserving the capital value of its investment portfolio. The Group invests in both onshore and offshore wind farms with the amount invested in offshore wind farms being capped at 40% of GAV at acquisition.
Product Details at a glance:
Greencoat UK Wind invests in operating UK wind farms to provide shareholders with a sustainable and transparent income stream through an annual dividend on the issue price of 100p (7.72p for 2022). Given the nature of the Company’s income streams, the board has increased and intends to continue to increase the dividend in line with retail price index (RPI) inflation. The Company also aims to preserve capital on a real basis by reinvesting excess cashflow in additional operating UK wind farms, and through prudent use of portfolio leverage.
The Company offers exposure to UK wind generation through a premium listed vehicle. Greencoat UK Wind is invested solely in operating onshore and offshore UK wind farms which are currently producing income.
Greencoat UK Wind was the first renewable infrastructure fund to list on the LSE main market and is the only infrastructure fund or renewable infrastructure fund domiciled in the UK. The Company is a constituent of the FTSE-250 index. Greencoat UK Wind is incorporated in England and Wales, and is a UK Investment Trust.
The Company is managed by an experienced team of senior executives from Greencoat Capital LLP, a leading European renewable investment manager, and overseen by a strong and experienced independent board of directors.
Investment Policy:
The Company generally invests in operating wind farms situated throughout the UK and its offshore renewable energy zone:
- Predominantly with a capacity of over 10MW;
- The amount invested in offshore wind farms will be capped at 40% of the Gross Asset Value at acquisition;
- No wind farm project acquired will have an acquisition price greater than 30% of the Gross Asset Value of the Group immediately post-acquisition (with 25% being a preferred limit);
- Will acquire 100%, majority or minority interests in individual wind farms, usually held through Special Purpose Vehicles (SPVs); when investing in less than 100% of the equity share capital of a wind farm SPV, the Company will secure its shareholder rights through shareholders’ agreements and other transaction documents; and
- Any investment outside the UK, in construction projects or in non equity or associated debt instruments limited to 15 per cent. of Gross Asset Value
| FUND FACTS | |
|---|---|
| Fund Name | Greencoat UK Winds plc |
| Fund Manager(s) | Stephen Lilly, Laurence Fumagalli |
| Sector | IT Renewable Energy Infrastructure |
| Launch date | 27 March 2013 |
| Product Type | Investment Trust |
| Available as an ISA | Yes |
| Estimated portfolio yield | 5.95% |
| Targetting | Suitable for all investors |
| Dividend payment frequency | Quarterly |
| Total assets | £4,500.34m |
| Sponsor & broker | |
| Legal Adviser | |
| Fund Charges | |
| Initial charge: | *Please note Investment Trusts have additional charges |
| Fund Manager Annual Management Charge: | 0.98% |
| Total Service Fee p.a. | 0.43% |
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