Triodos Renewables extends deadline for £5m share issue
- Credit: Archant
Triodos Renewables, the wind and hydroelectric energy company which includes three wind farms in north Suffolk, has extended a share issue in a bid to reach its £5million target.
More than 600 investors signed up during the initial offer period from October 14 to November 30, subscribing a total of about £2m, but Triodos has now extended the deadline until January 30.
Triodos currently operates 10 wind farms and one hydroelectric project in the UK, including the wind turbine at Ness Point in Lowestoft and the twin turbine installations at Africa Alive in Kessingland and the Eye Airfield Industrial Estate.
The money raised through the share issue, which involves a minimum investment of just £50.16, will be directly invested in constructing new renewable energy generating assets in the UK.
Executive director Matthew Clayton said: “We made the decision to offer our lowest ever minimum investment because we believe that investing in renewable energy should be an option to everyone.
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“We have now decided to extend the share issue for a further two months as our pipeline of renewable energy assets continues to grow and because we want to offer a rewarding connection with renewable energy for even more people.”
To open up investment in renewables to the wider public, Triodos Renewables decided to work with Trillion Fund, the crowd financing platform for renewable energy, to promote and distribute the offer.
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Mr Clayton added: “Investing in renewables is something that everyone should have access to. By working with Trillion, and opening up the share offer to people with as little as £50.16 to invest, we have enabled those who previously would not have been able to invest in renewables become part of our expanding our community of investors.
“We are pleased that the money raised so far comes from both existing shareholders growing their interest in the company and also new investors who join the community of more than 5,000 shareholders.”
Trillion Fund chief executive Julia Groves said: “Renewable energy can offer decent, steady returns for investors, with the added benefit of knowing your money is doing something good.
“With more than one billion pounds invested in renewable in 2013, ordinary investors are waking up to opportunities to put their money to work and get a share of the profits, even if they have as little as £50 to invest.”