To provide attractive risk-adjusted returns to shareholders through annual dividend increase and capital value growth by investing in euro denominated operational renewable electricity generation assets in Relevant Countries within the Eurozone. The Company will initially focus on investing in wind assets in Ireland, where it has acquired the Seed Portfolio and where the Board and the Investment Manager believe there is an attractive opportunity to consolidate onshore wind assets, and in Other Relevant Countries (being Belgium, Finland, France, Germany, Netherlands, Denmark, Norway, Sweden, Spain and Portugal), where the Board and the Investment Manager believe there is a stable and robust renewable energy policy framework.
The Investment Manager is entitled to a management fee of 1% of the NAV up to EUR 1 bn 0.8% in excess of EUR 1 bn 0.75% in respect of NAV over EUR 1,750 million, paid quarterly in arrears. The Agreement may be terminated with not less than 12 months written notice.
Dividends are expected to be paid quarterly, normally in respect of the quarters ended 31 March, 30 June, 30 Sept and 31 Dec. Dividends expected to be paid in February, June, August and November. The Company aims to increase the dividend each year, by an amount between zero and Irish CPI.