ABO Wind has raised nearly €7m in a recent share issue to fund wind and solar projects globally.
Institutional investors subscribed for 400,000 new shares in ABO Wind.
The gross proceeds of the oversubscribed issue bring the developer’s current market capitalisation to more than €150m.
“We greatly appreciate the capital market’s vote of confidence, which additionally supports our good business development,” said ABO Wind managing director Jochen Ahn.
ABO Wind is working on new projects in 16 countries.
The majority of the new shares were subscribed by the Quest Cleantech Fund, an equity fund managed by the Belgian investment manager Capricorn Partners.
Capricorn partner and co-fund manager Olaf Corper said: “As a pioneer of renewable energy, ABO Wind is an ideal fit for the Quest Cleantech Fund.
“We appreciate this attractive initial investment opportunity.”
ABO Wind’s founding families, Ahn and Bockholt, who together now hold 57% of the shares, and the Frankfurt energy supplier Mainova, with 10%, were not involved in the capital increase.