Response to Budget

RNS Number : 5616S

Greencoat UK Wind PLC

09 July 2015

 



Greencoat UK Wind PLC ("UKW")

9 July 2015

UKW - Response to Budget

The Board notes the Chancellor's statement in the Budget in relation to the Climate Change Levy exemption for renewable electricity generation and confirms that the Company was already factoring in its removal from 2022.

The Board also notes the future reduction in the Corporation Tax rate, and given Greencoat UK Wind's low level of corporate gearing, can confirm that this benefit largely offsets the small reduction in the Net Asset Value arising from the exemption removal.

The Company is reporting its half-year results and Net Asset Value (as of 30 June 2015 but reflecting the above changes) on Tuesday, 28th July 2015.

Contacts:

Greencoat UK Wind PLC                              020 7832 9400

Stephen Lilley

Laurence Fumagalli

Tom Rayner

Tulchan                                                           020 7353 4200

Stephen Malthouse

Rob Walker

 

END

 

 

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