Greencoat Renewables generates profits of €13.4m in H1

Greencoat Renewables generates profits of €13.4m in H1
File photo.

Greencoat Renewables has reported that it generated net cash of €13.4 million in the first six months of 2018.

The company increased its portfolio to five wind farm investments with the acquisition of Lisdowney, Tullynamoyle II and Dromadda More wind farms.

Greencoat announced earlier this month that it had entered into an agreement to acquire a portfolio of an additional four wind farms from Coilte.

The wind farm operator said that its investments generated 195.3GWh of electricity in the six months to the end of June.

"I am delighted with the Company's achievements to date and very pleased to announce dividends for the period of 3.0 cent per share," said Ronan Murphy, Non-Executive Chairman of Greencoat Renewables.

"The outlook for the Company is positive, we have a high quality operating portfolio and a capital structure aligned for growth in an attractive secondary market for wind assets."

Digital Desk

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