Greencoat Renewables bolsters assets to power nearly 340,000 homes
Greencoat Renewables has bolstered its assets over the past year, enough so that it has produced enough renewable energy to power 339,000 homes.
The portfolio increased to 25 assets in the year to December 31, with a net generating capacity of 800MW and 1,522 GWh of electricity in the period.
The renewable energy it has produced over the last 12 months has saved some 608,856 tonnes of CO2, Greencoat said in its trading update today.
The renewable infrastructure company has also committed over €1m to local communities across 153 community projects in Europe.
With renewable energy growing all the more desirable, particularly as an option to separate Europe’s energy grid from Russia amid war with Ukraine, Greencoat has declared a dividend of 6.06 cents for the period, with a target of 6.18 cents per share for 2022.
Meanwhile net cash generation climbed past its 2020 figure of €66.4m to €70.5m.
“In a year of low wind resource, we are pleased to deliver a robust dividend cover, reflecting the resilience of our business model, and a continued solid financial and operational performance,” non-executive chairman Ronan Murphy said.
“We achieved significant growth milestones in 2021, successfully expanding and strengthening our pan-European platform. Our portfolio now extends to France, Finland, Sweden and Spain, where we committed to acquire our first solar generation asset.”