Deals this week: ERG, KP Energy, EBL Wind Invest

13 April 2018 (Last Updated April 12th, 2018 10:03)

ERG has raised gross proceeds of €1.11bn ($1.37bn) by issuing 6.012 million ordinary shares priced at €18.6 ($22.87) a share in a private placement.

ERG has raised gross proceeds of €1.11bn ($1.37bn) by issuing 6.012 million ordinary shares priced at €18.6 ($22.87) a share in a private placement.

Italian institutional investors have subscribed to the placement.

The shares issued under the private placement, equivalent to approximately 4% of ERG’s share capital, were held by UniCredit.

ERG is not entitled to receive any proceeds from the placement.

UniCredit has engaged Citigroup, Morgan Stanley and UniCredit Corporate & Investment Banking as joint bookrunners for the transaction.

Both the companies involved in the transaction are based in Italy.

India-based KP Energy has formed a partnership with GE India Industrial for the construction and development of a 300MW wind plant near Kutch, Gujarat, India.

KP Energy is engaged in renewable energy generation, while GE India Industrial India, is a subsidiary of General Electric, a digital industrial company based in the US.

“The Palmas Altas wind farm is expected to produce 524GWh of energy a year, which is sufficient to power 43,000 homes in the US.”

EBL Wind Invest has acquired the 13.2MW Winsen-Pattensen II wind farm in Harburg, Germany, from Win Energie & ORBIS.

Based in Switzerland, EBL Wind Invest is engaged in renewable energy, while Win Energie & ORBIS is a German renewable energy company.

EBL Wind Invest was advised by 4initia, a Germany-based engineering and consulting company, for the transaction.

Acciona Energia has agreed to invest approximately $200m for the development of the 1.45GW Palmas Altas wind farm located in Cameron County, Texas, US.

The wind farm is expected to produce 524GWh of energy a year, which is sufficient to power 43,000 homes in the US.

myFC plans to raise gross proceeds of Skr75m ($8.92m) by issuing approximately 25 million shares priced at Skr3 ($0.35) a share in a rights offering.

Existing shareholders can subscribe to one subscription right each, while three such rights would entitle to the issue of two shares.

The company also proposes to issue additional shares up to 8.33 million in case of an oversubscription, which will increase the gross proceeds by approximately Skr25m ($2.97m).

Based in Sweden, myFC is engaged in manufacturing micro fuel cells and chargers.

ACME Solar Holdings plans to raise gross proceeds between Rs10bn ($153.4m) and Rs15bn ($230.1m) by issuing shares in an initial public offering (IPO).

The proposal is a modification to the company’s previous draft proposal with the Securities and Exchange Board of India to raise Rs22bn ($334.18m) by issuing shares in an IPO.

Based in India, ACME Solar Holdings is engaged in renewable energy generation.

The company has engaged ICICI Securities, Citigroup Global Markets India and Deutsche Equities India as bookrunners for the transaction, while Shardul Amarchand Mangaldas & Co is providing legal advisory services to the company.