Greencoat UK Wind (ticker: UKW) was the first renewable energy infrastructure trust to join the London market and has just celebrated its tenth anniversary. Since its IPO, its annualised NAV return has been 11.6%, well ahead of its 9% per annum target and making it the best performer out of the six veteran renewable trusts. As the name suggests, this trust only invests in UK wind projects and has a roughly equal mixture of onshore and offshore assets. Gearing is mostly at the trust level and is currently 31% of its gross asset value. Its portfolio of 45 wind farms is valued at £5bn but is quit...
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