Neoen files IPO prospectus with French regulators

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
The 300MW Cestas project in France. SOurce: Neoen.

French developer and independent power producer (IPP) Neoen will look to raise in excess of €620 million (US$713 million) when it floats on the Paris stock exchange.

In addition to the €450 million (US$518 million) made available, its existing majority shareholder, Impala, will purchase just over €170 million of shares to retain that position, according to the prospectus document.

The shares will be priced between €16-19 (US$18.4 – 21.9).

If the offering is heavily subscribed Impala and its fellow investor Bpifrance Investissement will buy more shares to protect their positions potentially driving up the value of the raise to more than €710 million (US$817 million), according to a report by Reuters.

In a registration filing for the IPO, lodged in September, Xavier Barbaro, CEO of Neoen, said: “Our initial public offering is designed to finance our growth to achieve total capacity in operation and under construction of at least 5GW by the end of 2021. It is with great enthusiasm that we initiate this planned offering, which will enable us to remain an independent player in the market while welcoming new investors to join our long-standing shareholders.”

The firm currently has 2GW of wind, solar and biomass in operation or under construction and a further 1GW contracted.

Neoen was behind the 300MW Cestas PV project in France, the largest in Europe at the time of its connection. It operates in Australia, Mexico, the US and across Europe.

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

PV Tech Premium
July 30, 2021
Not only will solar be the dominant source of new power generation in Europe by 2025, cementing its position as the third largest market for solar globally, but the continent has placed the asset class at the very heart of its COVID-19 recovery strategy. As part of a week-long special report on PV Tech Premium, Liam Stoker, Edith Hancock and Jules Scully explore the drivers for solar in Europe, the key markets and the challenges that remain.
July 30, 2021
Anglo-Australian mining company BHP, in partnership with Canada’s TransAlta Renewables, is to build two solar farms and a battery storage system to help power its Mt Keith and Leinster nickel mines in Western Australia
July 29, 2021
US residential solar installer Sunnova said it was investing in its end-to-end solar services to cater for customers demanding more from their rooftop installations.
July 29, 2021
The US Senate has passed a new bipartisan infrastructure bill after weeks of protracted discussions, establishing US$550 billion in new infrastructure funding as part of an investment described as “once-in-a-generation”.
July 27, 2021
Canadian Solar has closed a BRL500 million (US$100 million) financing facility to develop a Brazilian solar portfolio claimed to be the country’s largest, while also giving it the option to hold built solar assets for longer.
July 27, 2021
A round-up of the latest news from the US solar market, featuring Vision Solar’s commitment to hire “hundreds” of sales staff as part of a two-state expansion, Recurrent Energy’s sale of two major assets in Texas and news of 8minute Solar Energy strengthening its legal team.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021