NextEnergy targets £300m raise for renewable energy trust

NextEnergy Renewables Limited (NREN) will invest in private funds run by both its investment manager and third-party firms, alongside co-investments and direct acquisitions of infrastructure projects. The firm said the fund would provide shareholders with attractive long-term income and capital appreciation, with total returns of 9% to 11% including growing dividend. That income for investors will 3p, equivalent to a 3% yield on the IPO price for the period from initial admission to 31 December 2021, rising to 5.5p in the company's first full financial year and growing progressively ther...