Greencoat Renewable to raise $279.6 million

UK-based Greencoat Renewable, a private equity (PE) firm focused on renewable energy, through its fund, Greencoat Solar I, is set to issue an initial public offer to raise $279.6 million to pursue additional wind and solar projects across Europe. The company is planning to list itself on the Irish Stock Exchange, and would also look to trade in the alternative investment market and enterprise securities market on the London Stock Exchange. The funds will be used to acquire additional Irish wind and solar projects across the Eurozone. It has set an initial dividend target of $0.067 and internal rate of return of 7-8 per cent.

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