French renewable developer and IPP Neoen has taken the first step towards an initial public offering (IPO) that it hopes will raise €450m ($525m).
Neoen filed registration documents with French financial regulators ahead of the IPO, which it said would fund its plans to reach 5GW in operation or under construction by 2021, up from 2GW now.
Impala, the developer’s current main shareholder, has said it will subscribe to the IPO and plans to remain the major stakeholder after the process, said a statement from Neoen.
