Triodos Renewables is launching a new share issue with the aim of raising up to £7m to invest in energy projects.
The offering is only open to existing shareholders or new investors placing a minimum order of £50,050. The company last completed a share issue in 2008, raising £9.9m.
It currently operates five renewable projects across the UK, with two more due to come on stream in 2010.
Recent projects include the purchase of a 9.2 megawatt wind farm development in North Wales, which is due to start generating electricity in mid-2010. It cost £13.8m, of which Triodos invested £5.6m in equity.
The upcoming issue will help fund the acquisition and construction of further renewable energy projects in the UK.
Matthew Clayton, operations director of Triodos Renewables, says the fundraising comes during a period of strong growth for the company.
"The North Wales acquisition alone has increased our generating capacity by 40% and put the funds we raised in 2008 to good use for our shareholders," he says.
"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."
Approximately 97% of Triodos Renewables' asset portfolio is invested in renewable energy projects, with the remaining 3% in early stage developments, joint ventures and investments in new sustainable energy technology.
