Greencoat Renewables PLC is pleased to announce its Interim Results for the six-months period ended 30 June 2022.

Highlights - Continued Investment across Geographies and Technologies

• The Group's investments generated 1,127GWh of electricity (H1 2021: 745GWh) in the period.
• Net cash generation of €92.1 million (H1 2021: €40.2million), delivering gross dividend cover of 3.0x (H1 2021 1.8x).
• Total installed capacity increased to 1,028MW (H1 2021: 686MW) in the period, as a result of an increase in portfolio size to 28 wind farms (H1 2021: 23) and the Killala battery project becoming operational.
• GAV increased to €2,155 million (H1 2021: €1,442 million) and NAV increased to €1,256 million (H1 2021: €749 million).
• Delivered continued geographic diversity with acquisitions across Germany and Spain as well as continued investments in Ireland.
• Declared total dividends of 3.09 cent per share with respect to the period.
• Successful capital raising activity in the period with gross proceeds of €281.5 million raised in an oversubscribed placing.
• €898.7 million Aggregate Group Debt, equivalent to 42% of GAV.

Commenting on the results, Ronan Murphy, Non-Executive Chairman of Greencoat Renewables, said:

The six months to 30 June 2022 was another active period for the Company, as we added 217MW of new generating assets to the portfolio, taking our total installed capacity above the 1GW threshold. We achieved a further milestone with the acquisition of our first offshore wind asset in Germany and strengthened our European diversification with agreements to acquire new assets in Spain, Sweden and France.

Over the past 12 months we have committed €867 million into renewable generation assets, with elevated power prices supporting increased levels of reinvestment.

With Europe expected to require €1 trillion of new clean energy investment by 2040, the Company is well positioned to play a significant role in enabling and accelerating this transition, directly contributing to meeting emissions targets and reducing reliance on gas across Europe.