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Ingenious seeks £160m for Clean Energy Income trust
by Danielle Levy on Jan 17, 2014 at 07:43
Ingenious Capital Management is seeking to raise £160 million for a Clean Energy Income trust.
The closed–ended fund provides investors with exposure to a portfolio of renewable energy generation assets and energy efficiency projects. The fund aims to provide investors with long-term dividends in line with RPI and will be managed by Ingenious's renewable infrastructure specialist investment team. The dividend is expected to be around 6p.
The fund will invest in operational solar PV (photovoltaic) assets; operational onshore wind assets; and energy efficiency projects.
In an announcement to the stock exchange concerning its intention to IPO the Clean Energy Income fund, Ingenious said aside from seeking to raise £160 million through an offer for subscription of ordinary shares, there was also an option to increase the size of the issue up to £200 million.
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on Mar 07, 2014 at 13:36