Norwegian renewables developer Magnora has raised Nkr120m (€11m) in capital which will fund committed investments and new projects.
The capital was raised through a private placement which was multiple times oversubscribed, Magnora said.
The developer has also appointed former Arise Windpower CEO Peter Nygren as executive vice president of operations.
Magnora CEO Erik Sneve said: “Magnora has made numerous exciting renewable investments in the past 18 months.
“The funds from this private placement will be utilised to create even greater value for Magnora’s shareholders through our current company and project portfolio, but also to capitalise on additional investment opportunities.
“We have access to a solid deal flow as Magnora is considered to be an attractive and financially solid business partner in renewable energy segments.”