RENEWABLE ENERGY SEAGREEN HOLDCO LIMITED

1. RENEWABLE ENERGY SEAGREEN HOLDCO LIMITED 2024-05-31 → present
2. TOTALENERGIES RENEWABLES SEAGREEN HOLDCO LIMITED 2021-06-23 → 2024-05-31
3. TOTAL GAS & POWER INFRASTRUCTURE LIMITED 2016-10-13 → 2021-06-23

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on the going concern basis. The company's activities together with the factors likely to affect its future development, performance and position are set out in the strategic report. The financial position of the company, liquidity position and borrowing facilities are described in note 14. The company has cash balances of £1,893 (2023: £171,280) at 31 December 2024 and is funded through £958,558,577 (2023: £349,216,000) of borrowings. At 31 December 2024 across all the available RESH instruments: Cover Loan, TERUK Shareholder Loan and PTTEP £1 billion Loan notes the undrawn position is a total of£776.4 million. In May 2024, the company issued £150 million of ordinary shares for cash and as part of a sale re-organisation by its parent company TotalEnergies Renewables UK Limited, repaid its borrowing facility to its affiliate and took on £965.7 million of loan facilities. This includes a covered loan due to lending banks, loan notes due to shareholders and other shareholder loans. The objective is to ensure that there is sufficient cash to meet its debt service requirements for its current, business plan. There are no covenants on the loan facilities and the final repayment dates are in 2048 - 2055. Management have prepared cash flow forecasts and considered plausible downside scenarios. This includes scenarios where cash distributions from its joint venture interest in Seagreen Holdco 1 Limited are delayed. In such a scenario, the company is able to mitigate any going concern risk by having permission to call on its shareholders to provide funding to meet its short-term liquidity requirements as well as permission to take a decision and steps in connection with the capitalisation of, or accrual of interest. Management has performed stress tests of future cash flow forecasts to evaluate the impact of severe but plausible downside scenarios. This includes scenarios which reflect a reduction of up to 35% in the cash distribution from its investment in Seagreen offshore wind farm or combination of operational events which could present liquidity risk. In all plausible downside scenarios management demonstrated sufficient liquidity for the company for the going concern period to 31 December 2026. As a result, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.”

Group structure

1. RENEWABLE ENERGY SEAGREEN HOLDCO LIMITED · parent
   1. Seagreen HoldCo1 Limited 0.51% · Renewable energy

Significant events

• “In January 2025, the company received an interim dividend of £4.4 million from its 51% stake in Seagreen Holdco1 Ltd. In January and February, the company paid interim dividends of £0.3 million to its shareholders.”
• “In quarter 1 of 2025 the company prepaid £7.1 million of debt instruments.”
• “In March 2025, the company issued 6,120,000 'C' shares par value £1 to its shareholder TERUK in exchange for cash. The company used the fund to subscribe to 6,120,000 of Seagreen Holdco1 Ltd ordinary A shares of £1.”
• “In March 2025, Seagreen Holdco1 Ltd sold its transmission infrastructure. As a result, Seagreen Holdco1 Ltd distributed £52.8 million to the company. The funds were used to repay £40 million of shareholder loans from TERUK.”
• “In May 2025, the company issued 6,120,000 'C' shares par value £1 to its shareholder TERUK in exchange for cash. The company used the fund to subscribe to 6,120,000 of Seagreen Holdco1 Ltd ordinary A shares of £1.”
• “In July 2025, the company received an interim dividend of £5.1 million from its 51% stake in Seagreen Holdco1 Ltd. The company paid interim dividends of £0.5 million to its shareholders and prepaid £8.6 million of debt instruments.”
• “In August 2025, the company paid interim dividends of £7.8 million to its shareholders.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

4

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -98.8%

  £171,000 → £2,000

• Net assets

  +391.1%

  £45,235,000 → £222,144,000

• Employees

  —

  Not reported

• Operating profit

  +16,695.6%

  -£205,000 → £34,021,000

• Profit before tax

  +349%

  -£11,397,000 → £28,373,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers