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Bloomberg
NextEnergy Renewables Ltd plans to raise 300 million pounds ($412 million) in an initial public offering in London, capitalising on growing demand for sustainable investments.
The company will invest in renewable power assets and other infrastructure that enables the transition away from fossil fuels, the latest example of asset managers trying to match investors
increasing concerns about environmental, social and governance standards with a surging pipeline of green power.
NextEnergy Renewables will be managed by NextEnergy Capital IM Ltd, part of the NextEnergy Group, which has more than $2.3 billion in renewable energy-related assets under management, according to a filing.
The company aims to provide investors with 9% to 11% total returns per year, including a dividend of 5.5 pence per share in the financial year ending on December 31, 2022 and growing progressively after.