REG - Greencoat UK Wind - RO Indexation, NAV and Dividend Policy

Greencoat UK WindAnnouncement

29/01/2026 07:00

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RNS Number : 8869Q  Greencoat UK Wind PLC  29 January 2026

29 January 2026

 

 

GREENCOAT UK WIND PLC

(the "Company")

 

RO Indexation, Net Asset Value and Dividend Policy

 

 Updated Net Asset Value / Net Asset Value per share  £2,882.4 million / 133.5 pence

 

Renewables Obligation Indexation Consultation

 

The UK Government has now published the result of its consultation on changes
to the inflation indexation of the Renewables Obligation ("RO") scheme.

 

From 1 April 2026, the RO scheme will now be indexed at the Consumer Price
Index ("CPI") rather than the Retail Price Index ("RPI").

 

Updated Net Asset Value

 

In light of the consultation outcome, the Company announces that its unaudited
Net Asset Value as of 31 December 2025, updated solely for changes to the RO
scheme, would be £2,882.4 million (133.5 pence per share). This represents a
reduction of 2.6 pence per share, which is in line with the previous guidance
provided on 11 November 2025 and having reflected the outturn of 2025 CPI.

 

An updated December 2025 Factsheet is available on the Company's website,
www.greencoat-ukwind.com (http://www.greencoat-ukwind.com) .

 

 

Dividend Policy and 2026 Dividend Target

 

The Company has been reviewing its dividend policy in line with the range of
potential outcomes from the RO Indexation Consultation. The Company has, for
12 consecutive years, increased its dividend by RPI or better, from a 6 pence
dividend per share at IPO to 10.35 pence in respect of 2025. Dividend
progression has been underpinned by strong cashflow generation.

 

The principal instrument from which the Company derives explicit RPI cashflow
linkage is the RO scheme, which will now be indexed to CPI. The Company's
Contracts for Differences instruments also have explicit CPI linkage. The
Board has therefore determined that its dividend policy will now be to aim to
provide shareholders with an annual dividend that increases in line with CPI
inflation.

 

Accordingly, the Company announces an increase in the target dividend for 2026
to 10.7 pence per share in line with CPI for December 2025 of 3.4%. The
Company's forward looking dividend cover expectations remain robust and are
substantially unchanged.

 

For the avoidance of doubt, the quarterly interim dividend of 2.59 pence per
share with respect to the quarter ended 31 December 2025 remains unchanged.

 

 

 

For further information, please contact:

 

Greencoat UK Wind PLC

Matt Ridley

Stephen Packwood

John Musk (Investor Relations)                       +44
20 7832 9495

John.musk@schrodersgreencoat.com (mailto:John.musk@schrodersgreencoat.com)

 

Headland
Consultancy
+44 20 3805 4822

Stephen Malthouse

Charlie Twigg

ukwind@headlandconsultancy.com (mailto:ukwind@headlandconsultancy.com)

 

 

Ocorian Administration (UK) Limited               Company
Secretary

Josh
Finlay
+44 28 9693 0219

 

 

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