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Renewables Firm to Expand its Wind Portfolio

By Katie Anderson on July 8, 2011

Triodos Renewables, one of the UK’s leading renewable companies is aiming to expand its wind portfolio by raising £15m to invest in new onshore wind projects.

The green energy investment arm of sustainable bank Triodos will offer more than 8.3 million shares at £1.80 per ordinary share to new investors and existing shareholders, with a minimum purchase of £540.

The company already owns and operates seven wind farms, which were funded partially by a £7m share issue in 2009. Tridos Renewables has targeted annual shareholder returns of 9 to 10% in the long term. It has increased its power generation capacity by 57% to 36.8MW, which is enough to power around 24,500 homes, and hopes to reach 100MW by 2015.

Triodos said in a statement that it has a further 19.1MW of onshore wind power capacity in the pipeline, with another 2.4MW in procurement or under construction, and 16.7MW of capacity under exclusivity and ready to build.

The company is one of the most widely owned renewable energy companies in the UK, with 4,000 investors, and hopes to increase on this number as much as possible.

“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,” said managing director, James Vaccaro.

Its first project expected to come online is a 1.5MW wind farm in Dunfermline, Scotland, which should be producing electricity by the end of 2011.