Greencoat Wind UK plc

Greencoat UK Wind plc is a London‑based, closed‑ended investment company that operates as the UK’s leading listed renewable infrastructure fund, exclusively focused on UK wind generation assets. Listed on the London Stock Exchange since March 2013 and a constituent of the FTSE 250, it provides investors with direct ownership exposure to operating onshore and offshore wind farms. The company’s stated objective is to deliver a sustainable annual dividend that increases in line with CPI inflation while preserving the real capital value of its portfolio through the reinvestment of excess cash flow. Managed by Schroders Greencoat LLP, Greencoat UK Wind invests predominantly in UK wind projects above 10 MW, acquiring 100%, majority or minority stakes. As at 30 June 2025, it owned interests in a diversified portfolio of 49 operating UK wind farms across England, Scotland, Wales and Northern Ireland, with net generating capacity of about 1,982 MW. The portfolio generated 2,581 GWh of renewable electricity in the first half of 2025 and supports enough clean power for around 2.2 million homes per year, avoiding approximately 2.4 million tonnes of CO₂ emissions annually. The fund blends fixed and merchant revenues and uses prudent leverage within a framework that typically targets total debt of up to around 40% of gross asset value. The company’s strategy combines long‑term ownership of high‑quality wind assets with active capital allocation. It has a long record of dividend growth and maintains dividend cover through robust cash generation. Asset management initiatives such as lease extensions, turbine performance upgrades and operating cost optimisation have added well over £100 million to net asset value since 2016. Alongside reinvestment, the board deploys excess cash into selective asset disposals, debt reduction and share buybacks to manage gearing, address the share price discount to NAV and enhance long‑term shareholder returns while supporting the UK’s renewable energy deployment and net zero ambitions.