Construction BUSINESS

Renewable energy infrastructure company Greencoat Renewables has announced plans to list on the Dublin and London stock exchanges. The company said it intends to raise gross proceeds of up to €250m to list on Dublin’s ESM market and on London’s AIM market.

Greencoat said it expects to be the first listed renewable energy infrastructure company on Irish Stock Exchange. Last March, the company bought a seed portfolio of operating Irish onshore wind farms, with an aggregate capacity of 137MW. Greencoat Renewables said it intends to buy further operating Irish wind farms.

Over time it will buy operating wind and solar assets in certain other euro zone countries with the objective of generating attractive risk adjusted returns for shareholders. Rónán Murphy, non-executive chairman of Greencoat Renewables, said the company has an attractive seed portfolio of operating Irish onshore wind assets. “Our intention to raise new capital and list on the Irish and London Stock Exchanges is an exciting next step for Greencoat Renewables,” Mr Murphy said.