Greencoat UK Wind has raised £118.8m (€136m) in its latest share offering which will be used to pay for the purchase of an increased shareholding in the 522MW Clyde wind complex in Scotland.
A total of 101,576,695 new shares were issued to secure funds to boost the company’s interest in Clyde.
Earlier this month, Greencoat and GLIL Infrastructure exercised an existing option to own 49.9% of the operational project, up from the 35% previously.
The purchase is due to be completed on 30 May, with Greencoat controlling 28.2% and GLIL 21.7%. SSE owns the remainder.
Greencoat UK Wind chairman Tim Ingram said: “We are pleased to announce another successful and heavily oversubscribed equity capital raise.
“We are grateful for the support from shareholders, which is testament to the company’s simple, low risk and proven strategy.”
Image: Clyde wind farm complex (Siemens Gamesa)
Greencoat secures Clyde cash
By EBS