Triodos Renewables in £7m share issue

Triodos Renewables is launching a new share issue with the aim of raising up to £7m to invest in energy projects.

The offering is only open to existing shareholders or new investors placing a minimum order of £50,050. The company last completed a share issue in 2008, raising £9.9m. It currently operates five renewable projects across the UK, with two more due to come on stream in 2010. Recent projects include the purchase of a 9.2 megawatt wind farm development in North Wales, which is due to start generating electricity in mid-2010. It cost £13.8m, of which Triodos invested £5.6m in equity. The upcoming issue will help fund the acquisition and construction of further renewable energy projects...