Clearvise nets EUR 25m in share issue to fund portfolio expansion

German independent power producer clearvise AG (ETR:ABO) has raised EUR 25 million (USD 26.4m) in gross proceeds through a capital increase to support the company’s plan to expand its portfolio to 1 GW over the next three years.

The company sold roughly 11.9 million new shares at EUR 2.10 apiece. About 88% of all subscription rights were exercised by existing shareholders.

Shares in clearvise last traded 0.82% higher at EUR 2.46 in Frankfurt on Thursday. The company’s market capitalisation tops EUR 154 million.

“The proceeds generated help us to continue pursuing various attractive projects. Overall, we see ourselves in a good position to expand the portfolio to 1 GW by 2025,” clearvise’s CFO Manuel Sieth noted in the press release.

Wiesbaden-based clearvise produces electricity from renewable sources, currently having an operational capacity of around 303 MW. The company is working on expanding its portfolio of wind onshore and photovoltaics (PV).

Earlier in 2022, clearvise agreed to acquire a 166-MW portfolio of wind and solar plants from Pacifico Renewables Yield AG (ETR:PRY) as part of a broader deal that will make the latter the anchor shareholder in clearvise.

(EUR 1 = USD 1.058)

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