Renewable infrastructure fund Greencoat UK Wind is launching a second share issue to raise funds to pay down a revolving facility agreement and pursue a pipeline of investment opportunities.
The placing opens on 1 November at a price of £1.10 per share, with the results due to be announced on 18 November, Greencoat said.
The fund, which has invested in 19 wind farms totalling 420MW, said its net asset value as of 30 September was £646.7m, which “reflects an increase in the long term power price”.
Greencoat UK Wind chairman Tim Ingram said: “The second issue … offers investors an attractive investment opportunity in today’s ongoing low interest rate environment.”
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