VH Global Sustainable Energy Opportunities, the investment company advised by Victory Hill Capital Advisors, has announced plans to raise £150m (€175m) through a share issue to buy renewables assets.
The issue price represents a premium of 3.4% to the NAV per ordinary share as at 31 March adjusted for the interim dividend of 1.25 pence per ordinary share declared on 5 May and a discount of 3.5% to the closing share price on 8 June.
The investment adviser has identified a number of potential sustainable energy infrastructure investments, including a portfolio of three operating wind farms totalling approximately 153MW in Mexico.
It is also looking at an operational hydro plant in Brazil with capacity of approximately 198MW, currently owned by an unnamed large European utility.
Since IPO, the company has assembled an portfolio of 24 assets, comprising investments which are diversified across a variety of technologies in four jurisdictions – Australia, Brazil, UK and the US.