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Triodos Renewables launches share issue

Triodos Renewables is launching a share issue to raise up to GBP7m which will be invested directly in renewable energy projects.

The share issue is only open to existing shareholders and new investors making investments of over GBP50,050.

With 15 years’ experience in the field, Triodos Renewables currently operates five renewable projects across the UK, with two more due to come on stream in 2010. The company completed a successful share issue in 2008 raising GBP9.9m.

The current share issue will help fund the acquisition and construction of further renewable energy projects in the UK. It follows the acquisition of a 9.2MW wind farm development in North Wales which is due to come on stream by mid-2010. The total project cost was GBP13.8m of which Triodos Renewables invested GBP5.6m in equity.

In addition, the company holds an option to acquire a 5MW wind farm in East Anglia which has planning consent and is expected to be fully operational by Q4 2010.

The company also has exclusive options to acquire further development sites with a generation capacity of 25MW. These options are in collaboration with development partners with whom Triodos Renewables already has strong working relationships.

Matthew Clayton, operations director of Triodos Renewables, says: "This has been a strong period of growth for Triodos Renewables. The North Wales acquisition alone has increased our generating capacity by 40 per cent and put the funds we raised in 2008 to good use for our shareholders. The new share issue will mean we can build our renewable asset base and continue to fight the impact of climate change. This is a good time to invest in renewable energy.”

Once the Welsh and East Anglian projects have commenced operation, Triodos Renewables will have grown its operational portfolio by 60 per cent since the last share issue in 2008 and will have a combined capacity of 37.7MW.

Roughly 97 per cent of Triodos Renewables’ asset portfolio is invested in  renewable energy operating projects, with the remaining three per cenr in early stage developments, joint ventures and  investments in new sustainable energy technology.

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