Greencoat Renewables raises €270m before stock listing
Irish energy company Greencoat Renewables has raised €270m ($314m) before a planned listing on the Irish Stock Exchange's ESM later in July. That would make it the first clean energy infrastructure company to list on the Irish exchange.

Ireland Deals Matthew Ord

Irish energy company Greencoat Renewables has raised €270m (£239m) ahead of its admission to the Irish Stock Exchange's ESM later this month (July 2017).

The company will issue 270 million ordinary shares on 25 July at an issue price of €1 each.

On admission, Greencoat Renewables will be the first renewable energy infrastructure company to list on the Irish Stock Exchange.

Rónán Murphy, non-executive chairman of Greencoat Renewables, said: "The significant oversubscription means a total capital raise of €270m, which underlines the strength of our investment case.

"We are very pleased to welcome our new institutional shareholders to the register alongside the Ireland Strategic Investment Fund and AIB."

Bertrand Gautier, partner of investment manager Greencoat Capital, added: "The positive reaction from investors and success of the initial offering is testament to the opportunity that the Irish renewable energy market presents.

"The capital raised will allow the company to pursue its investment policy and grow a Euro denominated renewable energy business of scale, focusing initially on the Irish onshore wind market."