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Dec 24, 2014 - US firm Sol-Wind Renewable Power LP plans to launch an initial public offering (IPO) in New York and raise up to USD 100 million (EUR 82.1m).
Following the placement, the company intends to acquire stakes in a 184.6-MW portfolio of solar and wind power assets in the US, Puerto Rico and Canada, it said in a filing with the US Securities and Exchange Commission on Tuesday.
The firm noted that it will take advantage of the “favourable trends” in the green energy sector. It expects state mandates and government incentives in the US and abroad to further boost the deployment of renewable energy plants.
Sol-Wind’s stock will trade under the ticker symbol “SLWD”. UBS AG and Citigroup are the IPO’s bookrunners.
Sol-Wind is a growth-oriented limited partnership that was set up in August to own, acquire, invest and manage solar and wind parks. It is led by CEO Scott Tonn, who was previously at the helm of US solar firm SunWize Technologies Inc. The company focuses on buying solar and wind plants from middle-market developers, whose projects have capacities of between 100 kW and 5 MW for solar and 1 MW-10 MW for wind farms.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.