VH Global Raises GBP 122 Million for Renewable Energy Initiatives
VH Global Sustainable Energy Opportunities Plc has completed its previously announced share placing, raising a total of GBP 122 million (USD 148.4 million/EUR 141 million).
The renewables investor is issuing 110.9 million new shares at GBP 1.1 each as part of the initial offering, which includes a placing, open offer, offer for subscription, and an intermediaries offer.
The company stated that the profits will be used to invest in multiple sustainable energy infrastructure opportunities identified by its investment manager Victory Hill Capital Advisors LLP within the next three to six months.
It previously stated that it is aiming for an "improved pipeline" of three projects worth GBP 280 million, including a 153-MW onshore wind portfolio in Mexico and a 198-MW hydropower plant in Brazil.
Bernard Bulkin, Chair of GSEO, stated that the company has successfully committed or deployed approximately GBP 290 million across a portfolio of 24 varied assets since its debut in February 2021.
“This further capital commitment of GBP 122 million, from both new and existing shareholders, will support our future growth ambitions and takes our total capital raised to over GBP 455 million in less than 18 months,” he added.
Source: Renewables Now
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