Greencoat Renewables to list in Dublin and London
Renewable energy infrastructure company Greencoat Renewables has announced plans to list on the Dublin and London stock exchanges.
The company said it intends to raise gross proceeds of up to €250m to list on Dublin's ESM market and on London's AIM market.
In a statement, Greencoat said it expects to be the first listed renewable energy infrastructure company on Irish Stock Exchange.
Last March, the company bought a seed portfolio of operating Irish onshore wind farms, with an aggregate capacity of 137MW.
Greencoat Renewables said it intends to buy further operating Irish wind farms.
Over time it will buy operating wind and solar assets in certain other euro zone countries with the objective of generating attractive risk adjusted returns for shareholders.
Rónán Murphy, non-executive chairman of Greencoat Renewables, said the company has an attractive seed portfolio of operating Irish onshore wind assets.
"Our intention to raise new capital and list on the Irish and London Stock Exchanges is an exciting next step for Greencoat Renewables," Mr Murphy said.
Meanwhile, Scottish Equity Partners (SEP) is to provide project finance to fund the construction of the €8.7m million, 4.6MW Curraghderrig wind farm in Co Kerry.
The project was developed by Rengen Power and SEP made the investment through its Environmental Capital Fund which is targeted at infrastructure projects in the energy sector.
Curraghderrig is located near the village of Asdee, and will operate two 2.3MW Enercon E-70 turbines, each with a hub height of 64 metres.
Ground work and turbine installations have now been completed on the site, with the turbines due to be operational by September.
The windfarm at Curraghderrig will generate sufficient renewable energy to power over 3,100 homes.