Davy Research

Greencoat Renewables (GRPG.I, GRP ID)

  • 278.1
  • 270.0
  • 66.3

Company Profile

PLEASE NOTE THAT DUE TO THE RECENT ANNOUNCEMENT BY GREENCOAT RENEWABLES THAT IT INTENDS TO RAISE €101M IN NEW CAPITAL THROUGH AN EQUITY PLACING, DAVY IS NOW IN A PERIOD OF ORDINARY COURSE RESEARCH. RESTRICTIONS THEREFORE APPLY TO OUR RESEARCH COVERAGE OF GREENCOAT RENEWABLES. Greencoat Renewables is a listed Irish renewables fund, brought to market in July 2017. It currently has a c.195MW onshore wind portfolio, which is likely to grow over the medium term. The fund expects to provide investors with an annual dividend that increases in line with inflation. It also aims to preserve the capital value of its investment portfolio through the reinvestment of excess cash flow and prudent use of gearing. Over the medium term, the fund will also consider offshore wind and solar opportunities, both in Ireland and in other European countries. The company is managed on a day-to-day basis by Greencoat Capital, an experienced investment manager with over €2bn of assets under management across a number of funds.


Major Shareholders%
Ireland Strategic Investment Fund28.1
Newton Investment Management 6.2
Irish Life Investment Managers5.7
AIB5.6
Investec4.9
  • GREENCOAT RENEWABLES

    Closing Price (c): 103.0

  • RATING 24/08/17

  • PREVIOUS RATING

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