From pv magazine global
French IPP and solar developer Neoen has filed a registration document with France’s Financial Markets Regulator (AMF) for a listing on the Paris stock exchange.
The company said it hopes to raise €450 million (AU$ 724 million) through the IPO, a sum that would be used to execute investment plans and reach capacity in operation and under construction, of at least 5 GW by the end of 2021, while maintaining at least 80% of its installed capacity in OECD countries. The French developer currently owns and operates around 2 GW of renewable energy assets, worth more than €2 billion.
“It is with great enthusiasm that we initiate this planned offering, which will enable us to remain an independent player in the market while welcoming new investors to join our long-standing shareholders,” said Neoen CEO Xavier Barbaro. “Impala, Neoen’s majority shareholder, has announced that it will subscribe in the offering and intends to remain Neoen’s majority shareholder,” the company added in its statement.
Neoen, which claims to have been profitable since 2011, registered a turnover of €139m last year, up 71% compared to a year earlier, and in the first six months of this year revenue reached €102m, up 87%.
Neoen added it has off balance sheet assets amounting to more than €5bn in contracted revenues, and the related PPAs are denominated in stable currencies such as euros and Australian and U.S. dollars.
Portugal, Finland, Mexico, Ireland, the USA and Mozambique were also mentioned by Neoen in its filing with the AMF.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.