U.K. Set for Biggest Clean-Power IPO in Shift Toward Equity
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The Renewables Infrastructure Group Ltd. plans the biggest initial public offering of a U.K. clean-power company as developers turn to stock investors to pay for projects because utilities have less cash for acquisitions.
The green-energy fund plans to raise 300 million pounds ($460 million) via a sale of shares in London, and buy 14 wind farms and four solar parks in Britain, France and Ireland with total capacity of 276 megawatts, it said today in a statement.