Renewable

February 2 (Renewables Now) - German independent power producer clearvise AG (ETR:ABO) has raised EUR 11.48 million (USD 12.92m) in gross proceeds in a share issue to finance the acquisition of solar and wind projects.

The company placed 5.74 million shares at a price of EUR 2 apiece with institutional investors, it said on Wednesday. The transaction drew solid interest and the offering was oversubscribed.

Hamburg-based private bank M.M.Warburg & CO acted as sole bookrunner for the share placement.

The proceeds from the capital increase will be used to finance the acquisition of a 90-MW solar project in the state of Brandenburg and the purchase of a 7.2-MW wind park in Bavaria. Both deals were agreed in January.

The Klettwitz Nord solar plant is located on a former spoil heap in the eastern German village of Klettwitz. It is currently under construction and is set to go online in the second quarter of 2022. The project was acquired from energy solutions company GP JOULE GmbH and its partners.

The Korbersdorf wind farm in Bavaria has been in operation since 2015. Part of the purchase price for the facility will be paid in clearvise shares.

The fresh capital from the share issue will be also invested in the purchase of more solar and wind projects as the power producer aims to expand its portfolio. The Wiesbaden-based company currently has a 345-MW portfolio of wind and solar parks located in Germany, France, Ireland and Finland as well as a biogas plant.

(EUR 1 = USD 1.126)

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