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.

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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.

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