Renewable infrastructure company Greencoat Renewables has raised €281.5m in an oversubscribed placing of shares.
Greencoat said that a total of 251,351,351 placing shares will be issued at a price of €1.12 per share.
It said the net proceeds of the placing will be used to provide the company with the "flexibility to execute on assets under exclusivity and meet obligations under committed forward sale investments".
Greencoat Renewables said it has multiple attractive near-term investment opportunities under consideration in Ireland and continental European markets.
Rónán Murphy, Chairman of Greencoat Renewables, said he was very pleased with the oversubscribed placing, which he said reflected shareholder confidence as the company continues to build one of the leading European renewable energy infrastructure companies.
"As the transition to renewable energy gathers pace, I am very optimistic about the prospects for the business and look forward to deploying these proceeds to deliver on our ambitious growth strategy," Mr Murphy said.
Greencoat Renewables said it had invested around €360m in wind generation assets in Ireland last year and so far this year.
This has increased its portfolio by 33% making it the largest asset owner of operational wind assets in the Irish market.
It has operations in Ireland, France, Finland, Sweden and Spain.
