Kleinkraftwerk Birseck Raising $43 Million for Renewables

Kleinkraftwerk Birseck AG, a Swiss low-carbon energy developer, plans to raise 40 million Swiss francs ($43 million) to invest in solar, wind and hydropower.

The company plans to obtain approval to raise the money through an issue of 4.44 million new shares at a price of 9 francs each, it said Thursday in an e-mailed statement.

The funds will be invested to expand its portfolio across hydropower, wind and solar energy in Switzerland, Germany, France, Italy and Norway, it said. It’s aiming for 300 megawatts of renewable power plants by 2020.

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