| Work Detail |
Total generating capacity reached 1.5GWh across 39 renewable and storage assets in 2024 Greencoat Renewables has reported a slight decrease in net asset value (NAV) per share in 2024, compared with the previous year. NAV per share in 2024 was 110.5 cents (2023 112.4 cents). During 2024 Greencoat Renewables’ total generating capacity reached 1.5GWh across 39 renewable generation and storage assets in five European countries. During 2024 the company completed first asset sale of Kokkoneva wind farm in Finland at a premium to NAV with proceeds used to repay debt. Greencoat Renewables also completed the acquisition of the South Meath solar farm, the company’s first investment into the Irish solar market, under forward sale agreement committed to in July 2022. Ronan Murphy, Non-Executive Chairman of Greencoat Renewables, said: “I am pleased to report continued strong operating performance in a year where a range of macro-economic headwinds unsettled the sector. “A combination of intensive asset management, a balanced approach to power price risk and a robust balance sheet underpinned cash generation of €148.6 million and 2.0x dividend cover. “Overall, the Company continues to explore ways in which it can achieve its strategic aims of diversifying its shareholder base and positioning itself to take advantage of growth opportunities as market conditions improve, including the possibility of an additional listing to enhance the Company’s profile, improve liquidity and support future growth.” |
