ContourGlobal picks advisors for London IPO - report

Expat Capital / All Rights reserved

Aug 30 (Renewables Now) - ContourGlobal LP, a power generation company with a substantial renewable energy portfolio, intends to pursue an initial public offering (IPO) on the London Stock Exchange, Bloomberg reports.

US investment banks JPMorgan Chase & Co (NYSE:JPM) and Goldman Sachs Group Inc (NYSE:GS) are assisting the company with the process, while Rothschild & Co has taken the role of financial advisor, people familiar with the matter told the news agency.

According to the report, the planned listing could raise up to USD 1 billion (EUR 838m).

ContourGlobal says it runs 69 plants that generate power from both fossil fuels and renewable energy sources, with a combined capacity of about 4,100 MW. These power stations are located in 19 countries in Europe, Africa and Latin America.

In early August, the company bought some 20 MW of operational solar photovoltaic (PV) capacity in Italy, which expanded its European solar portfolio to 85 MW and its global renewables portfolio to 1,520 MW.

(USD 1.0 = EUR 0.838)

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