Greencoat Renewables Holds Dividend Target as Cash Generation Offsets NAV Softness

Greencoat Renewables Plc ( (DE:GRP) ) has provided an update.

Greencoat Renewables PLC reported an unaudited net asset value of €1,102 million, or 99.0 cents per share, as of 31 December 2025, alongside a quarterly interim dividend of 1.70250 cents per share for Q4 2025, completing its full-year target dividend of 6.81 cents per share and maintaining that target for 2026. Despite power generation being 9.1% below budget in Q4 and 10.4% below budget for the full year, the company delivered resilient net cash generation of €27.7 million in Q4 and €114.6 million for 2025, translating to a robust 1.5x net dividend cover, while net asset value per share declined by 2.5 cents over the quarter due to factors including lower power prices, updated operational budgets, reduced Guarantees of Origin forecasts and Irish dispatch constraints. Greencoat Renewables also highlighted proactive balance sheet management, including extending its €350 million revolving credit facility to 2028, entering interest rate swaps to fix a portion of its debt cost at 3.9%, maintaining a weighted average cost of debt at 3.4%, and preserving strong liquidity with €138 million in cash and €240 million of undrawn facilities, supporting a geared portfolio IRR of 9.4% and underpinning its dividend policy for shareholders across its Irish, UK and South African registers.

More about Greencoat Renewables Plc

Greencoat Renewables PLC is a listed renewable infrastructure company focused on owning and operating renewable energy assets, primarily wind and other renewables, across Europe. The company targets long-term, stable cash flows from contracted and regulated power generation, appealing to income-focused investors seeking exposure to the energy transition and European decarbonisation themes.

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