Renewables firm set for £1bn offering

INFINIS, the renewable energy firm chaired by former SSe boss Ian Marchant, is planning to float on the London stock market with an expected value of £1 billion.

The company, which is majority owned by Guy hands’ Terra Firma private equity firm, said it would list at least 30 per cent of its shares next month.

It said the move would allow access to a wider range of capital, while Terra Firma will sell down its stake. The company is targeting an initial dividend of £55 million a year.

Infinis has offices in edinburgh and Northampton and operates 147 power plants across the UK, including seven wind farms in Scotland.

It has plans to expand its onshore wind portfolio, and is also Britain’s largest generator of electricity from landfill gas.

Marchant, who stepped down from Perth-based SSe in July after a decade at the helm, joined Infinis last month with rumours of a flotation already swirling. he said: “This offer comes at an extremely exciting time for Infinis and for potential investors, as the company is well positioned to build on its established position as the UK’s leading independent renewable power generator to deliver further growth.”

Infinis said the shares would be sold to both institutional investors and individual retail investors. The offering is being run by Barclays, Deutsche Bank and RBC Capital Markets.