HELSINKI (dpa-AFX) - 3i Infrastructure plc (3IN), a closed-ended investment company and an approved UK Investment Trust specializing in infrastructure investment, on Thursday announced that it has agreed to invest a further 25 million euros into VALOREM. The capital increase being made to fund Valorem's growth, would raise 3i's stake to approximately 33 percent.
VALOREM is one of the largest independent renewable power producers and developers in France, with additional operations in Finland and Greece. 3i Infrastructure's funding would support the continued growth in VALOREM's installed base of operational assets and development pipeline.
Since 3i Infrastructure's original investment in 2016, VALOREM has almost tripled its asset base to 0.5GW and has more than doubled its EBITDA. VALOREM has also diversified into solar and hydro, expanded internationally and built a healthy wind and solar pipeline of over 5GW.
Shares of 3i Infrastructure closed Wednesday's trading at 344.50 pounds, up 4.50 pounds or 1.32 percent from the previous close
Copyright RTT News/dpa-AFX