Aventron raises CHF 60m to add more green generation capacity

Swiss green power producer Aventron AG has completed a capital increase, raising CHF 60 million (USD 61.27m/EUR 60.92m) in cash proceeds to back the expansion of its power generation capacity.

A total of 5.2 million new shares have been placed with existing and new investors at an issue price of CHF 11.50 apiece, the company said.

Upon completion of the transaction, Aventron's market capitalisation reached about CHF 623 million.

The fresh capital will be used to support the growth strategy for power production from renewable energy.

Based in the Muenchenstein municipality in the canton of Basel-Landschft, Aventron has a portfolio of wind, solar and hydropower plants with a combined capacity of 682 MW as of end-2021. The company's operations are focused on Switzerland, France, Germany, Italy, Spain and Norway.

In the medium term, the power producer aims to build up a green generation portfolio with an installed capacity of 1,000 MW. To reach this goal, Aventron invests between EUR 25 million and EUR 30 million (USD 30.17m) in equity per year to buy assets in the three categories.

(CHF 1 = USD 1.021/EUR 1.015)

(EUR 1 = USD 1.006)

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