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Greencoat output above budget

First results show company's wind portfolio generated 107.7GWh of electricity

Greencoat output above budget image

London and Irish-listed Greencoat Renewables’ wind energy portfolio generated 107.7 gigawatt-hours of electricity, 3% above budget, from 15 February to 30 September.

The seed portfolio consists of two wind farms with a capacity of 136.7 MW, the company said in its first set of results.

Greencoat generated operating cash flow of €8.9m in the period and raised €270m in its Irish and London stock exchange debuts in July. It also reports a net asset value of €261.6m or 96.9 eurocent per share.

The company said it would pay a dividend of 2.61 euro cent per share in March next year, in line with its initial target.

Greencoat non-executive chairman Rónán Murphy said: “Our assets have performed well over these first seven months, generating slightly more power than budgeted, due to a slightly higher than average wind resource.”

Image: Greencoat

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