UK solar attire NextEnergy Renewables plans ₤ 300m IPO

• PV designer to introduce share placement and also seek listing on London Stock Exchange

Solar developer NextEnergy Renewables (NREN) is to introduce an initial public offering and will certainly look for admission to the London Stock Exchange.

The company wants to raise as much as ₤ 300m with the share placement that would certainly obtain underway this month as well as involve March.

NREN will certainly be managed by NextEnergy Capital IM Limited, a global expert investment manager in the renewable resource industry and also part of NextEnergy Group.

NREN is a "differentiated renewables investment company" that intends to catch the "most attractive" personal renewables and also energy transition facilities investment opportunities internationally.

The firm stated its passion is to boost the worldwide renewable resource supply with established clean energies readily available.

It intends to supply capitalists with "appealing long-term regular income and also capital gratitude". NREN is targeting complete returns of 9-11 percent per year.

The company expects to release the syllabus in relation to the IPO in early February.

J.P. Morgan Cazenove is working as Global Coordinator and also Joint Bookrunner, Kempen & Carbon monoxide is acting as Joint Bookrunner and Dickson Minto W.S. is functioning as Sponsor.

NextEnergy Renewables chair Anne Wade said: "It provides me terrific enjoyment to introduce NextEnergy Renewables Limited's purpose to float on the London Stock Exchange with an IPO which we believe uses an absolutely unique financial investment opportunity for the sustainable as well as transition power investment market.

The NextEnergy Renewables fund will certainly offer the chance to right away invest with our seed funding into the NextPower III ESG fund, which has a significant portfolio of global solar assets, and in time seek to better expand the portfolio via financial investment into both private platforms and also straight financial investment via co-invested possibilities."