Greencoat UK Wind, the renewable energy investor which owns some of Scotland’s largest onshore projects, today said generation so far in 2020 is running 20% ahead of budget.
The company said the outperformance meant that over 30% of its 2020 generation budget has already been produced and it also said forward power prices for the remainder of the year are “relatively stable”.
Greencoat reassured investors that its target dividend of 7.1p a share is “expected to be well covered” and said its overall borrowings are in the middle of its medium term guidance.
In light of the Covid-19 epidemic, the firm is changing the location of its AGM next month with further details to be announced soon.
Greencoat has a portfolio of 36 UK wind farms with a net generating capacity of 998 megawatts. Its investments include a significant stake in the huge Clyde wind farm in south Lanarkshire.
