The Octopus Group is planning to float a new fund on the London Stock Exchange, targeting £250 million ($323 million) to invest in a diversified range of renewable energy assets across continental Europe, Australia and the United Kingdom, Solar Power Portal reports.
The Octopus Renewables Infrastructure Trust will invest in solar photovoltaic assets, onshore wind, as well as other assets under operation or under construction. Octopus Renewables, the clean energy arm of Octopus Group, has already identified a pipeline of £2.8 billion ($3.6 billion) renewable energy assets.
The fund is planning to raise the funds through a placing, an offer for subscription and an intermediaries offer of ordinary shares.
In January, Octopus, expanded into the Australian market with the opening of an office in Melbourne.
