Greenvolt – Energias Renovaveis, a Portuguese biomass energy operator, has announced its intention to proceed with a €150 million ($178 million) initial public offering for qualified institutional investors.
GreenVolt has applied for the admission of its ordinary shares to trading on Euronext Lisbon.
The IPO includes an additional and concurrent €56 million ($67 million) reserved capital increase as consideration for the acquisition of the Polish development platform V-Ridium.
GreenVolt currently invests in onshore wind and solar photovoltaic assets via V-Ridium and has a pipeline of 3.6 gigawatts, 1.5 gigawatts of which are under construction.
GreenVolt also holds a portfolio of five biomass plants, with 98 megawatts of injection capacity. The company said it is also looking to close the acquisition of Tilbury Green Power Holdings, a top-end, 43.6-megawatt biomass facility in the United Kingdom.
