(News Bulletin 247) – Neoen announces today the launch of a capital increase with maintenance of the preferential subscription right (DPS) of approximately 750 million euros in order to increase its installed capacity by 50% while intensifying its investments in storage.
The net proceeds from the capital increase correspond to the share of equity necessary to finance the entire investment plan of the company for the period 2023-2025.
These investments will be devoted, announces Neoen, to the construction of solar power plants, wind farms and batteries. They should make it possible to reach a capacity in operation or under construction of more than 10 GW by the end of 2025, as anticipated in 2021, but also to extend its storage capacities.
As an indication, Neoen estimates that its first 10 GW will generate, once fully in operation, an annual adjusted EBITDA of around 750 million euros.
“This will allow Neoen to increase the size of its asset portfolio by more than 50%, in particular storage, by the end of 2025,” comments Xavier Barbaro, CEO of Neoen.
The subscription price is 20.45 euros per share. The subscription period extends from March 10, 2023 to March 22, 2023 inclusive.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.