RES-backed firm in London IPO

The Renewables Infrastructure Group (RIG), a new investment manager backed by the UK renewables developer RES, intends to launch a £300m ($457m) initial public offering next month with the intention of snapping up operational wind and PV assets.

The IPO – seen as a reflection of the inability of stretched European utilities to buy existing renewables assets – would eclipse the £260m raised by Greencoat UK Wind when it floated on the London Stock Exchange in May.

Last month UK solar investor Bluefield Partners announced plans to raise £150m on the LSE this summer.

Like both of those investors, RIG – backed by RES and London-based infrastructure investor InfraRed Capital Partners – will use the capital raised to buy existing renewables projects.

RIG plans to use the money it raises to immediately Log in to read complete article.

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