French renewables developer Neoen has filed plans with the French financial regulator for an initial public offering to list on Euronext Paris.
Neoen said it hopes to raise €450m through the IPO to finance investment in new projects to have 5GW of capacity in operation or under construction by 2021, compared with 2GW currently.
The company said its current majority shareholder Impala will subscribe to the IPO and plans to maintain majority status.
Neoen chief executive Xavier Barbaro said: “Neoen is a strong and fast-growing company that has for 10 years established a proven economic model and strategic position, as well as the ability to become one of the sector’s leading players.
“It is with great enthusiasm that we initiate this planned offering, which will enable us to remain an independent player in the market while welcoming new investors to join our long-standing shareholders.”