Greencoat UK Wind generated £48.3m in income from its onshore wind farms last year, up from £32.4m a year earlier.
The almost 50% revenue increase came on the back of better than expected generation figures in 2015, the company said today.
Greencoast’s Chairman Tim Ingram said: “We are pleased to report the continued good performance of our portfolio, with cash generation in line with budget despite the more difficult market environment.”
He added: “During the year we analysed many further investment opportunities, but have been very selective, only buying one new wind farm increasing our portfolio to 17 investments with just over 300MW of net generating capacity.”
The investment fund added the 29.9MW Stroupster wind farm in Caithness in northern Scotland to its portfolio last year in an £85 million deal with BayWa.
It now has 301.4MW of generating capacity in onshore wind across the UK and said today that it has a “healthy pipeline of attractive further investment opportunities”.
Image: Greencoat’s Kildrummy wind farm (BayWa)
