Greencoat cuts NAV, generation forecasts

(Sharecast News) - Windfarm investor Greencoat UK Wind on Wednesday cut long-term generation and net asset value forecasts after a revision to energy yield estimates across its portfolio.

The company said fourth-quarter NAV fell 7.4p a share to £3.41bn or 151.2p a share comoared with the previous three months.

Greencoat added that it had reviewed the portfolio's energy yield estimates and decided to harmonise the data set used in long term wind speed correlation "in conjunction with an expert third party".

"This has also added a number of recent years to the correlation data with lower than long term average UK wind speeds and this serves to bring the long term average down. As a result, the long-term generation forecast is expected to be 2.4% lower, with a resulting NAV decrease of 6.5p per share," the company said in a trading update.

Reporting by Frank Prenesti for Sharecast.com