LONDON (Alliance News) - The Renewables Infrastructure Group Ltd said Wednesday it plans to raise GBP25 million in a share placing, as it has inked an exclusivity agreement to acquire a 22.5 megawatt onshore wind project in Scotland.
It has agreed to acquire the project from its operations manager, Renewable Energy Systems. This project is in an advanced stage of construction, and is expected to be commissioned in the first quarter of 2017.
Renewables Infrastructure said the placing will be conducted via a bookbuild, to be conducted by Canaccord Genuity Ltd and Liberum Capital Ltd. The number of shares to be issued and the issue price will be agreed following the close of the bookbuild at midday next Friday.
Shares in Renewables Infrastructure were down 1.0% at 104.00 pence Wednesday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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