Completion of Acquisitions and Term Debt Facility

RNS Number : 8331X

Greencoat UK Wind PLC

10 January 2022

 

10 January 2022

Greencoat UK Wind PLC

Completion of Windy Rig and Glen Kyllachy Acquisitions and Long 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.brrmedia.co.uk/broadcasts-embed/61ba27162087413a5328b5af/greencoat-uk-wind-inside-a-wind-turbine-douglas-west/?popup=true/

For further information, please contact:

Greencoat UK Wind PLC    020 7832 9425

Stephen Lilley

Laurence Fumagalli

Tom Rayner

Headland Consultancy  020 3805 4822

[e-mail]  

Stephen Malthouse

Rob Walker

Charlie Twigg

Notes to Editors:

Greencoat UK Wind PLC ("UKW"), the leading listed renewable infrastructure fund invested in operating UK wind farms, has invested in 43 operating UK wind farms with net generating capacity of 1,422MW. 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 renewable investment manager with approximately £7 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.

 

END

 

 

ACQBLGDBLSGDGDR