Greencoat
says
the
initial
public
offering
(IPO)
will
be
backed
by
the
UK's
Department
for
Innovation,
Business
and
Skills
(DBIS),
which
committed
to
take
50
million
shares
as
a
cornerstone
investor.
The
UK
government
is
understood
to
see
such
deals
as
a
way
for
utilities
to
free-up
capital
from
their
operating
wind
portfolios
to
invest
in
the
country’s
huge
–
and
hugely
expensive
–
offshore
wind
ambitions.
SSE
has
also
committed
as
a
cornerstone
investor,
Greencoat
says.
Greencoat
says
it
has
deals
in
place
with
SSE
and
RWE
to
buy…
