Triodos Renewables launches new share issue to raise £15m towards building renewable energy infrastructure
One of the UK’s leading independent renewable energy companies has launched a new share issue in an effort to raise £15m towards new renewable energy projects.
Giving investors an opportunity to share in the ownership of new wind farms, Triodos Renewables said the offer is “an investment in the nuts and bolts of renewable energy generation.”
Triodos Renewables has built, owned and operated onshore wind farms and hydroelectric projects for over 15 years, focusing on medium scale community projects. It operates seven sites around the UK, with enough combined generating capacity to power 24,500 homes.
With 4,000 investors already onboard, Triodos Renewables is the most widely owned renewable energy company in the UK. It is managed by Triodos Bank, which only finances business that are benefiting society, culture or the environment, such as those in the organic food, renewable energy, social housing, and fair trade sectors. The bank has a policy of transparency, allowing its customers to find out where their money is lent.
Over the last three years Triodos Renewables has increased its power generation capacity by 57%, to 36.8 MW, with this expected to accelerate in the next few years as the company moves towards its target of 100 MW by 2015. The medium scale sector of the renewable energy industry is demonstrating strong growth, the company 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,” said James Vaccaro, managing director of Triodos Renewables.
The minimum investment is £540 and the company is targeting an annual rate of return on investment of 9-10% 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,” said Vaccaro. “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.”