UK government sells its 10.8% stake in Greencoat UK Wind Plc

The UK government has sold its entire 10.8% stake in Greencoat UK Wind Plc, a wind farm investor focused on UK assets.

Pinsent Masons has advised the UK Department for Business, Innovation and Skills (BIS) on its disposal of 50 million ordinary shares in the capital of the fund raising gross sale proceeds of £51.75 million (US$ 78.8 million).

The joint bookrunners of the accelerated bookbuild have been RBC Capital Markets and Barclays Bank Plc.

Greencoat UK Wind, which made an Initial Public Offering on the London Stock Exchange in 2013, invests in operating UK wind farms to provide shareholders with a sustainable and transparent income stream through an annual dividend.

Greencoat UK Wind is fully invested solely in operating UK wind farms which are currently producing income.

Greencoat UK Wind was the first renewable infrastructure fund to list on the LSE main market and is the only infrastructure fund or renewable infrastructure fund domiciled in the UK. Greencoat UK Wind is incorporated in England and Wales, and is a UK Investment Trust. BIS invested in the launch of Greencoat UK Wind in March 2013.