Friday, 29 July 2016
Last updated 4 hours ago
Oct 15 2009 | 8:55am ET
Italy’s Moncada Energy Group may float a stake at the end of 2012 to provide funds for expanding in renewable energy, according to a Reuters report.
Only 10 Italian renewables have listed on Milan’s stock exchange, despite a boom in this sector.
Based in Sicily, the family-owned Moncada group was originally a construction firm, but has shifted its focus to renewable energy. The group built its first wind park in 2005.
CEO and sole director Salvatore Moncada said the company wants to become much bigger by 2012, and has not ruled out the possibility of an IPO. Moncada said the family would maintain a controlling stake in the firm, but not necessarily one above 50%.
The group will approach banks and advisers to discuss the possibility of a late-2012 IPO. The company has not yet decided where it would list.
Moncada group hopes to triple its installed wind capacity in Italy to 300MW by the end of 2010 and boost solar capacity to 38MW.