Renewable electricity producer Voltalia has announced the launch of a capital increase “of approximately 490 million euros” in order to “involve all investors in its strategic acceleration,” according to a statement.
Voltalia – which produces and sells electricity from its wind, solar, hydro, biomass and storage facilities – “is today launching a capital increase in cash with preferential subscription rights for shareholders for a gross amount of approximately 490 million euros,” it said.
The company reports “subscription commitments for 72.95% of the total amount of the capital increase” from its reference shareholder, Voltalia Investissement, which is “part of the portfolio of companies owned by members of the Mulliez family”, for a total amount of approximately 345 million euros, as well as from Proparco for approximately 12 million, i.e. 2.50%.
The subscription price has been set at 13.70 euros per new share. The subscription period will open on November 21 and close on November 30 inclusive. The result of the capital increase will be known on December 5, for a listing of the new shares on Euronext Paris on December 7.
The group points out that it has recorded an average annual growth of 48% in its revenues and 49% in its gross operating income (Ebitda) between 2014, the date of its IPO, and June 30, 2022.
It now claims to be on track to meet all of its commitments by 2023 and should even reach its target of 2.6 gigawatts of capacity in operation and under construction by the end of 2022, a year ahead of schedule.
By the end of 2027, the company is aiming to “triple” its performance indicators, in terms of operations, finance and the environment, “compared to 2021, with more than 5 gigawatts of capacity owned (in operation and under construction) and more than 8 gigawatts of capacity operated for third parties.
The producer specifies that “at this same horizon”, it also aims “to triple the number of tons of carbon avoided thanks to the production of our power plants, to more than 4 million tons of CO2 equivalent”.
“We are launching a capital increase today to involve all investors in our strategic acceleration and write this new chapter in Voltalia’s history together,” said SĂ©bastien Clerc, CEO of Voltalia, quoted in the release.
By 2021, Voltalia had seen its revenues grow by 77% to €412 million.
