(Bloomberg) — NextEnergy European Solar Utility Plc plans
an initial public offering in London to raise funds for the
purchase of operating power projects in Europe, initially Spain
The company, managed by NextEnergy Capital Ltd., seeks
returns of 10 percent to 12 percent, it said in a statement.
Italy and Spain make up about 27 percent of the European
Union’s installed solar capacity, with most plants in operation
for more than two years, NextEnergy said in the statement. The
top 10 companies account for 5 percent and 13 percent of the
market share in the countries, respectively, it said.
“These markets are highly fragmented and do not operate at
an optimum level,” said Michael Bonte-Friedheim, chief
executive officer of NextEnergy Capital.
The fund is aiming for a dividend of 3 to 5 euro cents this
year, growing to 8 cents in 2016 and nine cents in 2017.
To contact the reporter on this story:
Louise Downing in London at
To contact the editors responsible for this story:
Reed Landberg at
Tony Barrett, Ana Monteiro