UK solar and wind asset owner Greencoat Renewables is eying an IPO to raise as much as €250 million (£218.8 million) to pursue additional wind and solar projects across Europe.
The company confirmed this morning that it was aiming to become the first renewable energy infrastructure firm to list on the Irish Stock Exchange, and would also look to trade on the AIM and ESM markets of the London Stock Exchange.
Greencoat said it would look to use the funds to first and foremost acquire additional Irish wind farms but would then look to bolt on wind and solar assets across the Eurozone.
It has set an initial dividend target of €0.06 (£0.052) and IRRs of between 7 and 8%.
Rónán Murphy, non-executive chairman at Greencoat Renewables, said the listing was an “exciting next step” for the firm.
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