Share issue stokes hopes of a green future

Posted by David, 6 May 2008

Triodos Renewable Energy Fund (“Triodos Renewables” or “the Fund”) has announced it is launching a major new share issue. The Fund aims to raise £8.5 million which will be invested directly in renewable energy projects and companies.  The share issue will allow retail investors to join more than 3000 existing shareholders as part of the flourishing renewables industry. Interested investors can request a prospectus by calling free on 0845 478 6361.

Triodos Renewables is managed by Triodos Bank which has financed over 200 renewable energy projects across Europe over the past 25 years. An investment since the company’s last share issue in 2005 would have returned 22.9% or an average of over 7% per year.  An investment of £2,970 will produce renewable energy output equivalent to the average person’s annual carbon footprint.

James Vaccaro, Managing Director of Triodos Renewables said: “The renewable sector is a strong growth industry. Maturing technologies like wind energy are making real headway, as pioneering technologies like tidal come on-stream. The UK has been slow to take advantage of the commercial and environmental opportunity that the renewables industry presents but with the Government target of 15% of electricity supply to come from renewable energy by 2015 the UK must catch up.”  

“This new share issue means we can continue to build our asset base and invest in a variety of exciting sustainable energy projects. These include acquiring existing and planned sites, working with industry to provide a sustainable energy supply from brown field sites and developing partnerships to build new projects.”

Triodos Renewables has grown considerably since the last share issue and the combined capacity of its operating projects is now 23.45 MW, increasing almost sevenfold over the past three years.

Triodos Renewables’ expanding portfolio includes groundbreaking new technologies such as an investment in Marine Current Turbines, a tidal energy company whose first commercial turbine will begin operating off the coast of Northern Ireland later this year; ‘Gulliver’, a single wind turbine on Lowestoft’s industrial coastline and Connective Energy Ltd, which is a joint venture between Triodos Renewables, Doosan Babcock and Carbon Trust Enterprises, developing ways to capture and re-use waste heat from industry.

Triodos Renewables shareholder, Corrie Cuthbertson said:  “Investing in Triodos Renewables appeals to me because it is simple and grounded with clear positive benefits. I care about the environment and investing in UK projects means I know exactly where my money is going.”

Charles Secrett, former head of Friends of the Earth and Chairman of Triodos Renewables said: “Big business and politicians talk a lot about tackling climate change but Triodos Renewables is actually doing something about it. The challenges are enormous but these investors, and this company, could be part of a future where our energy needs are met by 100% renewable sources.”

Investors can call free on 0845 478 6361 to order a prospectus.