Renewable energy investor Greencoat Renewables said its portfolio increased to 25 assets with a net generating capacity of 800MW last year, up from 557MW in 2020.
Greencoat Renewables said its portfolio generated 1,522 GWh of electricity in the year to the end of December, an increase on the 1,404GWh generated the previous year.
The company has declared a dividend of 6.06 cent for the year, with a target of 6.18 cent per share for 2022.
Its said its net cash generation for the year came to €70.5m, up from €66.4m in 2020.
During the year, Greencoat said its portfolio produced renewable energy for 339,000 homes, saving 608,856 tonnes of CO2, while over €1m was committed to local communities across 153 community projects.
Ronan Murphy, Non-Executive Chairman of Greencoat Renewables, said 2021 was another successful year of strategic diversification and growth at the company as it continues to execute on its strategy.
In a year of low wind resource, we are pleased to deliver a robust dividend cover, reflecting the resilience of our business model, and a continued solid financial and operational performance," Ronan Murphy said.
"We achieved significant growth milestones in 2021, successfully expanding and strengthening our pan-European platform. Our portfolio now extends to France, Finland, Sweden and Spain, where we committed to acquire our first solar generation asset," he added.
