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UK's Greencoat wind fund to issue 300 million new shares

Published 14/04/2016, 10:21
© Reuters. UK's Greencoat wind fund to issue 300 million new shares
UKWG
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LONDON (Reuters) - Greencoat UK Wind Plc (L:UKWG) has launched a share issuance programme of 300 million new shares to pay back debt and raise capital for investment, the renewable infrastructure fund said on Thursday.

Greencoat has invested in 18 operating wind farms in Britain with a combined net generating capacity of 400 megawatts.

The new shares will be issued at a price of 105 pence per share and the programme will close on April 17 next year.

"This ...will enable the company both to pay down debt, and to take advantage of value-accretive growth opportunities whilst maintaining its very selective acquisition approach," Chairman Tim Ingram said in a statement.

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