Download full report with analyst certification and important disclosures
May 6 2025, 14:25 IST/BST
Greencoat Renewables
Strong cash generation, albeit lower power prices impact NAV
- Sectors : Renewable Infrastructure
- Companies : Greencoat Renewables
DAVY VIEW
The strong cash generation at Greencoat Renewables (GRP) in Q1 – equivalent to 15.6% of opening net asset value (NAV) on an annualised basis despite energy generation being 14% below budget – highlights one of the key attractions of its portfolio. Recent PPA activity, meanwhile, demonstrates the group’s growth prospects. While Q1 NAV was impacted by lower power prices (short and long term), we see significant value at current valuation levels (0.71x P/NAV and 9.2% dividend yield).
