Greencoat Capital has revealed it will raise up to €250m (£219m) through an initial public offering (IPO) of shares in a newly formed subsidiary on London's Alternative Investment Market (Aim) and the Irish Stock Exchange.
Greencoat Renewables plans to use the funds to acquire new wind farms across Ireland, but it will eventually scoop up operating wind and solar assets in other Eurozone countries like Belgium, Finland, France, Germany and the Netherlands.
This follows Greencoat's acquisition of two onshore Irish wind farms from Brookfield in March after it was launched in February of this year.
"The Irish renewable energy market, with Ireland’s abundant wind resource, offers a compelling opportunity for investors," said Bertrand Gautier, partner of Greencoat Capital, the renewable infrastructure investment manager.
Gautier said he expects Greencoat Renewables to become a leading euro-denominated renewables investment company.
"We are excited about the growth prospects for the business," he said.
"The quality of our seed portfolio, coupled with the expertise and experience of our Investment Manager, should allow us to generate an attractive yield for shareholders coupled with capital growth," said Ronan Murphy, non-executive chairman of Greencoat Renewables.
Greencoat Renewables expects to be the first renewable energy infrastructure company listed on Ireland's stock exchange.