Greencoat Renewables is to issue up to 250 million new shares over 12 months in order to take advantage of the increasingly active secondary market for wind assets in Ireland.
The company initially plans to issue around 100 million placing shares at a price of €1.01 per share.
The proceeds will be used to refinance the company’s revolving credit facility, allowing it to make acquisitions while maintaining total gearing – currently at 43% – within its target range.
