Wind fund declares its maiden divi

RENEWABLE energy vehicle Greencoat UK Wind yesterday declared its maiden interim dividend, just months after joining the stock market.

The firm raised £260 million in March and immediately spent £251.1m buying wind farms from Perth-based utilities giant SSE and German peer RWE.

Greencoat declared an interim dividend of 1.5p and reiterated its aim of making an annual payout to shareholders of 6p.

Chairman Tim Ingram added: “We are currently actively evaluating and performing due diligence on a number of good opportunities.”

Greencoat’s assets include the Carcant wind farm near 
Heriot in the Borders and a 50 per cent stake in the Braes of Doune wind farm in Stirlingshire. Scottish Gas-owner Centrica sold the other half to Hermes GPE Infrastructure Fund.

SSE and the UK government’s Department of Business, Innovation & Skills each took stakes in Greencoat when it floated. The company was included in the FTSE all-share index in June, bringing it to the attention of tracker funds.