PV project developer Solairedirect is planning an IPO on the Euronext Paris stock exchange during the first half of 2015 as it plans to develop and retain more projects across multiple international markets.
Solairedirect noted that during its fiscal year ended 31 March 2014, it had generated revenue of €156 million, representing a 45% compound average growth rate over the last five fiscal years. During the six months ended 30 September 2014, Solairedirect generated revenues of €69 million.
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Thierry Lepercq, CEO of Solairedirect said: “The planned IPO of Solairedirect marks a new phase in the development of the company and is aligned with a vibrant market, where we see solar energy emerging everyday as a viable and competitive alternative source of energy. A public listing will enable us to accelerate our entry on our most competitive target markets. We will rely on our industrial, disciplined and scalable approach to developing solar parks to continue our growth trajectory and create value for our shareholders.”
The company had 57 solar PV power plants under construction or in commercial operation, as of 31 January 2015, representing an aggregate of 487MW on four continents (including 392.4MW in France, 71.6MW in India, 21.0MW in the Middle East and Africa and 1.3MW in Latin America)
Citigroup and Deutsche Bank are acting as joint global coordinators for the IPO.