Greencoat UK Wind PLC (LSE:UKW)'s Stephen Lilley and Director Matt Ridley talked with Proactive's Stephen Gunnion about the fund’s 2024 results and future strategy. Lilley highlighted the firm’s resilience, mentioning a £250 million dividend payout and key refinancings despite a tricky market. He emphasised the business's strong long-term position, noting the potential for capital recycling into the UK wind sector.
Ridley outlined the fund's expected strong cash generation over the next five years, supported by strong dividend cover and potential asset disposals. "We were the first to do a large buyback program, that's now complete; we've announced to the market this morning another 100 million," Ridley said. He stressed Greencoat's focus on alignment with shareholders, prudent capital allocation, and delivering attractive returns.
Lilley also announced his retirement, with Steve Packwood set to take over alongside Ridley. Packwood brings 20 years of experience in renewables and asset management, which Lilley believes will complement Ridley’s leadership.
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