Hogan Lovells Advises on £300M Clean Energy IPO
24 July 2013
LONDON, 25 July 2013 - Hogan Lovells has advised Canaccord Genuity Ltd and Jefferies International Ltd in their role as joint sponsors and bookrunners in relation to the planned initial public offering (IPO) of The Renewables Infrastructure Group Limited (TRIG), the biggest clean energy flotation in London so far this year, announced today, Wednesday 24 July.
TRIG, a newly incorporated Guernsey-based investment company, is seeking to raise £300 million by way of a placing and offer for subscription of shares on the Main Market of the London Stock Exchange.
Following admission, it plans to invest in a 276 MW, 100%-owned portfolio of 18 fully operational onshore wind and solar energy generation assets in the UK, France and Ireland. It intends to acquire further investments in the future in the UK and Northern European countries. Upon Admission, the initial portfolio will be operated by Renewable Energy Systems Ltd, a privately owned sister company of Sir Robert McAlpine Ltd.
The Hogan Lovells team advising Cannacord Genuity and Jefferies was led by London investment funds partner Erik Jamieson, assisted by corporate finance partner John Basnage, infrastructure partners Philip Brown and John Deacon, equity capital markets partner Maegen Morrison, and investment funds associate Homer Sullivan.
Commenting on the transaction, Erik said:
"We are delighted to have advised on this important strategic transaction which marks the year’s biggest clean energy flotation in London".