Greencoat UK Wind Partner Stephen Packwood and Head of IR John Musk presented at the Proactive One2One Investor forum about the company’s business model, market position, and opportunities ahead in the UK renewable energy sector.
Packwood explained how wind power addresses energy affordability, security, and sustainability, highlighting that wind is “one of the cheapest forms of generation of electricity globally”. He outlined the company’s simple model: Greencoat invests in and operates wind farms, sells power, pays dividends, and reinvests excess cash to preserve NAV in real terms. Since 2013, the company has increased its dividend annually in line with RPI.
Musk discussed the UK’s ambitious renewable targets, noting the government plans to triple offshore wind capacity and double onshore capacity under the Clean Power 2030 plan. While those targets may not all be met, he said the UK renewables market could grow from £100 billion today to £175–225 billion by 2030. Greencoat currently owns 5–6% of the market and sees significant room for expansion.
He also addressed the discount to NAV and outlined measures including share buybacks, asset sales at NAV, and a revised fee structure to align management incentives with shareholder outcomes.
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