Renovalia Energy is looking to raise about €250 million.
Renovalia Energy SA, is planning an IPO for 25 percent of the company worth about €250 million (USD $334 million), Bloomberg is reporting this morning.
The Spanish renewable energy company, which is more than 90 percent owned by Juan Domingo Ortega and his sister, plans to start selling shares to institutional investors within the next few weeks, according to an e-mailed statement.
Renovalia runs wind, photovoltaic, solar thermal and hydroelectric plants in Spain and elsewehere.
It has 300 megawatts of capacity and another 252.5 MW under construction.
Renovalia posted an opertaing profit of €55.9 million (USD $75 million) last year.
BNP Paribas and Banco Espirito Santo SA are joint global coordinators and joint bookrunners on the IPO and Banco Espanol de Credito SA and La Caixa are co-lead managers, Bloomberg reports.