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Triodos Renewables launches share issue

07-07-2011 |  

  Triodos Renewables share issue

  • The most widely-owned renewable energy company in the UK seeks to raise up to £15 Million to be invested in new renewable energy projects
  • Offers individual investors the opportunity to participate in direct ownership of UK renewable energy infrastructure
  • Share price set at £1.80 per ordinary share with £540 minimum investment

 

Triodos Renewables Plc ("Triodos" or the "Company"), a leading independent UK renewable energy company, today announces the launch of a new share issue that offers investors the chance to share in the direct ownership of the UK's growing renewable energy infrastructure and participate in one of the country's fastest growing markets.

The funds will be raised through a placing of up to 8,333,400 shares at £1.80 per ordinary share, with a minimum investment of £540. The offer is open to both new investors and existing shareholders and the shares will be tradable on the Matched Bargain Market managed by Brewin Dolphin. Proceeds from the offer will be invested directly into building new wind power assets to expand the Company's portfolio of operating renewable energy projects in the UK. The offer represents an investment opportunity in tangible, high value projects with long term revenue streams - an investment in the nuts and bolts of renewable energy generation.

Triodos Renewables has over 15 years of 'hands on' experience in the UK renewable energy sector, building, owning and operating onshore wind farms and hydroelectric projects in a distinct niche in the market between community and utility scale. This sector of the renewable industry is demonstrating strong growth and the Company's success to date has attracted 4,000 investors, making it the most widely owned renewable energy company in the UK. Triodos Renewables is managed in the UK by Triodos Bank, one of the world's leading ethical banks with over €5.6 billion under management and investments in over 300 renewable energy projects across Europe.

Over the last three years Triodos Renewables has increased its power generation capacity by 57% and the Company now owns and operates seven sites around the UK with a combined capacity of 36.8 MW, sufficient to generate enough renewable power for 24,500 homes.

The growth of Triodos Renewables is expected to accelerate in the next few years as the Company moves towards its targets of 100 MW of operating renewable energy capacity by 2015. Triodos Renewables has access to an immediate 'pipeline' of 19.1 MW of onshore wind power capacity with 2.4 MW in procurement or under construction and a further 16.7 MW of capacity under exclusivity and ready to build. The first project to come on line will be a 1.5 MW wind farm in Dunfermline, Scotland, which is expected to begin producing clean, renewable power at an industrial site before the end of 2011.

Commenting on today's announcement, James Vaccaro, Managing Director of Triodos Renewables said:

"In launching this share issue we are giving investors the opportunity to participate directly in the energy revolution currently taking place in the UK by taking direct ownership of some the country's new renewable power projects. Over the last 15 years we have established a strong leadership position in medium scale, community-focused projects and it is this success that has prompted us to offer the public more shares. We aim to use all of the money we receive to build new sources of renewable power here in the UK. The funds raised will be put to work very quickly building new projects and we are therefore targeting 9% to 10% annualised rate of return on investment to our shareholders over the long term.

The UK is at a crossroads at which choices need to be made that will decide where our energy comes from in the future. Our share offer allows investors mindful of the convergence of climate change, energy security issues and the need to transition to a safe and sustainable energy future, a chance to make a real difference and expect a good return."

Details of the share issue

Timetable

Subscription List opens  10am 8 July 2011  
Latest time for receipt of Application Forms  3pm 30 August 2011 
Subscription List closes  3pm 30 August 2011 

                                                               

Offer statistics (assuming full subscription)

Issue price GBP1.80
Number of Offer Shares 8,333,400
Number of shares in issue immediately following the Offer 23,113,510
Gross proceeds of the Offer to be received by the Company GBP15,000,120
Net proceeds of the Offer to be received by the Company GBP14,250,120
Costs of the Fundraising GBP750,000
Dilution of Existing Ordinary Shares following the Offer 36.1%
Percentage of issued share capital represented by Existing Ordinary Shares following the Offer 63.9%
                                                       

Notes to editors:

About Triodos Renewables Plc

Triodos Renewables is a public limited company, with 4,000 investors who want their money to make a practical difference in the fight against climate change, and who recognise the long-term business potential of renewable energy.

Triodos Renewables' objective is to exploit opportunities in a growing renewable energy market by taking advantage of projects that generate clean, green electricity from renewable sources. It also works with partners to develop and acquire projects, and invest in innovative companies in the sustainable energy sector. Its portfolio includes seven operating sustainable energy projects with a total capacity of 36.8 MW producing enough clean, green renewable energy for the equivalent of more than 24,500 homes. 

Triodos Renewables has financed innovative projects, such as the HaveriggII Wind Farm in Cumbria, a re-powering wind farm project at Caton Moor in Lancashire, a single wind turbine in the Orkney Islands, and the Beochlich Hydro Electric project in Argyll in Scotland.

Triodos Renewables is managed in the UK by Triodos Bank. Triodos Renewables is a trading name of Triodos Renewables plc.

Triodos Bank only finances enterprises which create social, environmental or cultural added value. Key sectors include organic food and farming, renewable energy, social housing, and fair trade. Transparency is a core value: customers are informed about the bank's lending and can target their savings to particular areas of investment. A range of personal savings accounts is offered, and full banking services are available for businesses and charities. Triodos Bank is an independent bank founded in the Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The UK office opened in 1995 and is based in Bristol.

Triodos Renewables was established to provide equity finance through direct investment in small to medium-scale renewable energy projects, such as hydro-electric projects and wind farms. The development of the business - and a shareholder base of 4,000 subscribers - provides a mechanism for individuals and institutions to invest directly in renewable energy opportunities.

 

 

 

IMPORTANT INFORMATION

This Financial Promotion has been approved by Triodos Bank NV (incorporated under the laws of the Netherlands with limited liability, registered in England and Wales BR3012) authorised by the Dutch Central Bank and subject to limited regulation by the Financial Services Authority for the conduct of UK business. Details of Triodos Bank NV's regulation by the Financial Services Authority are available from Triodos Bank NV on request. Registered office at Brunel House, 11 The Promenade, Bristol BS8 3NN. Any investment decision should only be made on the basis of the Prospectus and not on the information contained in this document. By making an investment, your capital will be at risk. Past performance is not necessarily a guide to the future. It may be difficult to sell or realise your investment or to obtain reliable information about its value or other risks to which it is exposed and you may not get back the full amount invested.

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