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Power pricing explains increased investor demand in Greencoat Wind – manager


Greencoat UK Wind PLC (LSE:UKW)‘s manager, Stephen Lilley, says the three themes of “ESG, inflation, and prices,” were behind the clamour for shares in its recent funding round.

The wind farm giant increased the size of the share issue to GBP450mln from GBP396mln due to the demand.

Speaking to Proactive, Lilley said having environmental, social, and corporate governance (ESG) is crucial for the business and investors are increasingly looking for ESG companies.

The “wider theme of inflation, obviously picking up to 6% in October” also helped increase the demand for Greencoat because it has “a dividend that increases with inflation.”

This positive correlation acts as protection for investors in a period where inflation rates are at their highest level in over a decade.

Lastly, Lilley attributed part of the increased demand to the rise in energy prices which has caused 25 British energy suppliers to go under since August.

“People can’t help but notice the prices that are coming through and we’re exposed to that, so that’s a great benefit to us as well,” added Lilley.

British households experiencing higher energy bills further points to the inevitable importance of renewable energy in the near future.

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