Greencoat UK Wind PLC Completion of Acquisitions and Term Debt Facility (8331X)
10 January 2022 - 6:00PM
UK Regulatory
TIDMUKW
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 GBP200 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
UKWind@headlandconsultancy.com
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 GBP7
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.
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END
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