This morning the Department for Business, Innovation and Skills (“BIS”) announced its intention to place at least 40 million ordinary shares in Greencoat UK Wind at a price between 103p and 105p. Barclays, RBC Capital Markets and Winterflood aim to have the deal wrapped up by lunchtime tomorrow.
Vince Cable (the minister) said: “The department invested in the launch of Greencoat UK Wind in March 2013 to help establish a new market for operational renewable energy assets. We wanted to allow developers to recycle their capital into new renewable construction projects and to help grow this important sector. This sector is now well-established, with six listed renewables infrastructure funds worth more than GBP1.7 billion, and so it is an appropriate time to reduce the department’s shareholding.”
UKW : UK Government selling Greencoat UK Wind