Howard Kennedy have been appointed to act as legal adviser on the launch of a new renewable energy infrastructure investment trust, Blackfinch Renewable European Income Trust plc. In addition Howard Kennedy will act as sponsor to BRET through its wholly owned subsidiary Howard Kennedy Corporate Services LLP.
BRET, which will invest in a portfolio of mixed renewable energy infrastructure assets, has appointed Blackfinch Investments Limited as investment manager and AIFM. The publication of the prospectus in relation to the launch was announced earlier this week, with BRET seeking to raise £300 million through an initial placing, offer for subscription, intermediaries offer and placing programme. Barclays Bank plc acting through its investment bank has been appointed as sole global coordinator on the launch and joint bookrunner, together with finnCap Ltd.
It is expected that BRET will qualify for the London Stock Exchange’s Green Economy Mark at Initial Admission. This recognises companies that derive 50% or more of their total annual revenues from products and services that contribute to the global green economy. The underlying methodology incorporates the Green Revenues data model developed by FTSE Russell, which assists investors in understanding the global industrial transition to a green and low carbon economy with consistent, transparent data and indexes.