Irish investor Greencoat Renewables has raised €111m to refinance an existing credit facility and free up cash for acquisitions of wind farms.
The Dublin-listed outfit said the funds were raised as part of an oversubscribed share placing.
Chairman Ronan Murphy said “new and existing investors” took part in what is the company’s first “follow-on fundraising” since an initial public offering in 2017.
“We look forward to completing the fundraising following our EGM next week and continuing to acquire value-accretive wind generation assets in Ireland’s attractive secondary market,” he said.
Greencoat Renewables has amassed a near-200MW portfolio of onshore wind in Ireland in the last 12 months.
Image: Greencoat Renewables
Greencoat raises Irish war chest
By EBS