Abo Invest increases capital to buy 20 MW wind parks in France

Dec 5, 2013 - German ABO Invest (FRA:ABO), part of wind farms developer ABO Wind, said on Wednesday it has raised EUR 5.8 million (USD 7.9m) from a capital increase in order to fund the acquisition of 20 MW of wind farms in France.

The company issued 4.5 million new shares at a price of EUR 1.29 per share. The capital hike is part of the shareholders' decision to increase the company's liquidity by up to EUR 15 million in stages by January 2014.

The company will use the raised proceeds for the purchase of two wind farms with a total capacity of 20 MW in the central region of Auvergne and near the confluence of the Loire river in north-western France.

The acquisition of the farms will contribute to the company's middle-term goal of having projects reaching 200-MW capacity. Abo Invest currently owns stakes in nine wind parks and a biogas plant with a total capacity of 84 MW.

The company is also examining the purchase of a 4.5 MW wind park in Germany and plans another wind facility in Finland.

(EUR 1.0 = USD 1.363)

Choose your newsletter by Renewables Now. Join for free!