NextEnergy targets £300m raise for renewable energy trust

NextEnergy Renewables Limited

David Brenchley
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NextEnergy Renewables' will invest a significant portion of proceeds in a fund targeting solar assets
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NextEnergy Renewables' will invest a significant portion of proceeds in a fund targeting solar assets

NextEnergy Capital will attempt to raise £300m for a renewables investment trust targeting total returns of between 9% and 11%.

NextEnergy Renewables Limited (NREN) will invest in private funds run by both its investment manager and third-party firms, alongside co-investments and direct acquisitions of infrastructure projects. The firm said the fund would provide shareholders with attractive long-term income and capital appreciation, with total returns of 9% to 11% including growing dividend. That income for investors will 3p, equivalent to a 3% yield on the IPO price for the period from initial admission to 31 December 2021, rising to 5.5p in the company's first full financial year and growing progressively ther...

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