Budget takes wind from sails of Greencoat

Greencoat UK Wind, whose sites include Braes of Doune overlooking Stirling Castle, reported a fall in its net asset value over the last six months.

The 1% reduction to £480.8 million was partly due to the cuts to climate change subsidies announced in the July Budget.

NAV per share was down from 105.5p to 104.2p.

Lower forecast power prices were also a factor.

Otherwise, chairman Tim Ingram said the portfolio performed well, with net cash generation of £29.2m.