Solar company Engyco to float in London

NEWLY founded solar company Engyco has appointed Numis Securities and Ambrian Partners to advise on a flotation on the London stock market.

It is thought that Engyco wants to raise up to €1bn (£885m) to invest in solar parks across Europe. It says on its website that it plans to buy €3bn of assets in countries with feed-in tariffs within the next three years.

It will initially focus on buying up-and-running solar parks of up to 300MW in Spain, and then expanding to other southern European countries.

Engyco is being advised by Andrew Craig in the corporate finance team at Ambrian, and Dean Cooper, the head of Cleantech at Ambrian.

Alexander Voigt, the founder of German solar firms Solon and Q-Cells, has been appointed as Engyco’s executive vice-chairman. Its chief executive is Ian Rosen, the former head of renewable energy investment at Banque AIG and the co-founder of Deutsche Bank’s renewable principal finance division.

During his time at Banque AIG, Rosen and his team acquired and built one of Spain’s largest solar photovoltaic portfolios.