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PUBLIC SHARE ISSUE IN UK’S MOST WIDELY-OWNED RENEWABLE ENERGY COMPANY, TRIODOS RENEWABLES

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Triodos Renewables

•    Individuals offered chance to co-own renewable energy projects by participating in £8m public share issue
•    8.5% return over past year and 6.8% return over previous six years
•    Share price set at £1.90 per ordinary share with £570 minimum investment
•    Visit www.triodosrenewables.co.uk  for more information or telephone 0845 478 6359

Triodos Renewables Plc (“Triodos” or the “Company”), a leading independent UK renewable energy company, today announces the launch of a new public share issue offering consumers the chance to participate in direct ownership of the UK’s growing community renewable energy infrastructure, one of the country’s fastest growing markets.

Proceeds from the offer, open from 31 July, will be invested directly into building new onshore wind power assets to expand the Company’s portfolio of renewable energy projects in the UK, such as Caton Moor and Dunfermline. The offer represents an investment opportunity in tangible, high value projects with long term revenue streams – an investment in the nuts and bolts of renewable energy generation.Triodos Renewables

The funds will be raised through a targeted placing of around 4m shares at £1.90 per ordinary share, with a minimum investment of £570. The offer is open to both new investors and existing shareholders and the shares will be tradable on the Matched Bargain Market managed by Stocktrade (a trading name of Brewin Dolphin).

Existing shareholders in Triodos Renewables have benefited from capital growth since 2005. For 2011, the Company is paying a 4p dividend. Over the past year the share price has increased 10p to £1.90 per share. Those who invested in 2006 have seen capital growth of 50p and total dividends of 16p per share – a 6,8% return.

Triodos Renewables, with almost 5,000 shareholders, is the UK’s most widely-owned renewable energy company. It focuses on low financial risk projects that use proven technologies and operate on long-term contracts, with an increasing proportion of sites located on Brownfield land where the aesthetic impact is reduced. Over the last three years the Company has increased its power generation capacity by 63% and it now owns and operates eight sites around the UK with a combined capacity of 38.25 MW, sufficient to generate enough renewable power for approximately 24,000 homes. It is on the right trajectory to reach its aim of 100MW renewable energy operating capacity by 2015.

Triodos Renewables has more than 16 years of ‘hands on’ experience in the UK renewable energy sector, building, owning and operating onshore wind farms and hydroelectric projects in a distinct niche in the market between community and utility scale. The Company is managed in the UK by Triodos Bank, one of the world’s leading ethical banks with over €5.6 billion under management and investments in 361 renewable energy projects across Europe with a generating capacity of 2,134MW, generating enough energy to meet the equivalent electricity needs of 1,500,000 European households.

Commenting on today’s announcement, Matthew Clayton, Managing Director of Triodos Renewables said:
“In launching this share issue we are giving investors the opportunity to participate directly in the energy revolution currently taking place in the UK by taking direct ownership of some of the country’s flagship renewable power projects. Over the last 16 years we have established a strong position in medium scale, community-focused projects and it is this success that has prompted us to offer the public more shares. We aim to use all of the money we receive to build new sources of renewable power here in the UK. The funds raised will be put to work very quickly building new projects and we are therefore targeting 9% to 10% annualised rate of return on investment to our shareholders over the long term.

“The UK is at a crossroads at which choices need to be made that will decide where our energy comes from in the future. Our share offer allows investors mindful of the convergence of climate change, energy security issues and the need transition to a safe and sustainable energy future, a chance to make a real difference and expect a good return.”

Details of the share issue
Timetable
Subscription List opens    10am 31 July 2012
Latest time for receipt of Application Forms     3pm 31 August 2012
Subscription List closes     3pm 31 August 2012
Offer statistics (assuming full subscription)
Issue Price    £1.90
Number of Offer Shares    4.21m
Number of shares in issue immediately following the Offer     22,386,412
Gross proceeds of the Offer to be received by the Company     £8,000,000
Dilution of Existing Ordinary Shares following the Offer     18.8%
Percentage of issued share capital represented by Existing Ordinary Shares
following the Offers     81.2%

About Triodos Renewables Plc
Triodos Renewables is a public limited company, with over 4,800 investors who want their money to make a practical difference in the fight against climate change, and who recognise the long-term business potential of renewable energy.
Triodos Renewables’ objective is to exploit opportunities in a growing renewable energy market by taking advantage of projects that generate clean, green electricity from renewable sources. It also works with partners to develop and acquire projects, and invest in innovative companies in the sustainable energy sector. Its portfolio includes eight operating sustainable energy projects with a total capacity of 38.25 MW producing enough clean, green renewable energy for the equivalent of approximately 24,000 homes.

Triodos Renewables has financed innovative projects, such as the Haverigg II Wind Farm in Cumbria, a re-powering wind farm project at Caton Moor in Lancashire, a single wind turbine in Dunfermline, and the Beochlich Hydro Electric project in Argyll in Scotland.

Triodos Renewables is managed in the UK by Triodos Bank. Triodos Renewables is a trading name of Triodos Renewables plc.

Triodos Bank only finances enterprises which create social, environmental or cultural added value. Key sectors include organic food and farming, renewable energy, social housing, and fair trade. Transparency is a core value: customers are informed about the bank’s lending and can target their savings to particular areas of investment. A range of personal savings accounts is offered, and full banking services are available for businesses and charities. Triodos Bank is an independent bank founded in the Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The UK office opened in 1995 and is based in Bristol.

Triodos Renewables was established to provide equity finance through direct investment in small to medium-scale renewable energy projects, such as hydro-electric projects and wind farms. The development of the business – and a shareholder base of over 4,800 subscribers – provides a mechanism for individuals and institutions to invest directly in renewable energy opportunities.

 

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Pandemic risks eclipse treasury priorities as businesses diversify investments to mitigate impact

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Pandemic risks eclipse treasury priorities as businesses diversify investments to mitigate impact 1

The Covid-19 pandemic has shunted aside existing challenges to sit atop treasurers’ priority lists, according to “The resilient treasury: Optimising strategy in the face of covid-19”, a survey run by the Economist Intelligence Unit (EIU) and sponsored by Deutsche Bank.

The results show that treasurers are looking to diversify their investments in a bid to mitigate the pandemic impacts, including heightened liquidity, foreign-exchange and interest-rate risk. As many as 55% plan to increase investments in long-term instruments, with 48% increasing investments in bank deposits, another 48% in local investment products, and 47% in money-market funds.

“The Covid-19 pandemic has drastically altered business plans in 2020. It has placed a certain level of strain on treasury processes, but the challenge it presents has been managed by traditional treasury skills. It is clear that pandemic risk will be on the treasury checklist for years to come, but it is one of many risks the department faces and will continue to manage,” says Melanie Noronha, the EIU editor of the report.

Despite Covid-19 looming large, other challenges wait in the wings. Notably, the replacement of the London Interbank Offered Rate was identified by 38% of respondents as the main challenge of their function.

Technology, meanwhile, continues to be a pressing issue, with treasury teams becoming increasingly reliant on IT solutions. Here, data quality is rising up the list of concerns. Already highlighted as very or somewhat concerning in 2019 by 69% of respondents, the figure rose to 78% in 2020. Acquiring the necessary skill sets to realise the full benefits of this data and technology is also a continuing priority – with some progress registered from last year. In 2020, 30% of respondents say they have all the skills they need to manage technological change, up from 22% in 2018.

“Treasury’s focus on technology is not only helping teams operate more efficiently in a remote-working environment, it has long played – and continues to play – a key role in realising their long-term priorities,” notes Ole Matthiessen, Head of Cash Management, Corporate Bank, Deutsche Bank. The survey shows that

Release 1 | 2  managing relationships with banks and suppliers (highlighted by 32% of respondents) and collaborating with other functions of the business (also 32%) remain top of the agenda – and seamless digital systems will help give treasurers the bandwidth and insight to be more effective partners for both internal and external stakeholders.

Based on a global survey of 300 treasury executives, conducted between April and May, the survey explores stakeholders’ attitudes among corporate treasurers towards the drivers of strategic change in the treasury function – from the pandemic through to regulation and technology – and their priorities for the next five years.

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Digital collaboration: Shaping the Future of Finance

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Digital collaboration: Shaping the Future of Finance 2

By Ryan Lester, Senior Director of Customer Experience Technologies at LogMeIn

With heightened economic uncertainty and increased customer expectation becoming the norm in the banking industry, it is understandable that the sector is struggling to keep afloat. Due to its precarious nature, banking institutions are trying their best to ensure they remain relevant in the competitive landscape and guarantee that their customers continue to be a priority.

When it comes to the first half of this year, the pandemic has shown how easy it is for industries to fail. Customers and companies alike had to get used to the new normal, as physical locations started to close. The banking industry felt this first hand, as banks were made to restructure how their business ran, with restricted opening hours and a wider push to motivate people to use online banking.

While some had already embraced digital options prior to the pandemic, this proved to be a stark contrast to the elderly population, who frequently visited branches to access their finances. Moving forward, banks have to adopt new methods to ensure customers get the most out of our their accounts, without their experience suffering.

Heightened Customer Expectations

When the pandemic reached its peak, people were encouraged to use online banking, as telephone contact was under strain with long waiting times and pressure mounting on contact centre agents. According to Fidelity National Information Services (FIS), which works with 50 of the world’s largest banks, there was a 200% jump in new mobile banking registrations in early April, while mobile banking traffic rose 85%.

With branches remaining closed, customers were continuously being urged to limit the amount of calls they made to the most urgent cases and consider whether they could solve their answers through mobile online banking or checking the company website. Although already being adopted in pockets of the industry, this was a real catalyst that spurred banks to up their game on digital channels and with self-service tools.

Banks are challenged with precariously balancing customer needs with the cost of personalised support. With the demographic of customers changing over the last few years, customers are becoming increasingly younger and more comfortable with technology. Influenced by the “Amazon Effect”, their expectations have raised to an all-time high, placing record strain on the sector

Customer experience isn’t just about support anymore, it’s about serving your customer at every point in the journey. Companies have an opportunity to elevate the experience they provide by moving beyond one-and-done interactions to create continuous engagements with their customers. It is starting to become a primary competitive differentiator in the market and one that doesn’t have a lot of variation. Deploying AI chatbot technology will be able to strategically help banks improve customer experience and raise the level of support that agents provide.

Digital collaboration: Working around the Clock

The benefits of adopting digital channels and self-service tools are second to none. By implementing chatbots, fuelled by conversational AI, banks will be able to help serve a wide range of customer queries and ensure they are protected from fraud and scams.

Ryan Lester

Ryan Lester

Conversational AI is exactly what it sounds like: a computer programme that engages in a conversation with a human. When it comes to service delivery, conversational AI can be deployed across multiple channels to engage with customers in ways that effectively address evolving customer needs. At a time defined by COVID-19, self-service tools such a conversational chatbots can work around the clock to solve customer queries in a concise and timely way. Of course, self-service tools won’t completely replace human agents in the banking industry, but they will help companies re-distribute customer traffic and workflows in ways that enhance customer experience. Self-service tools fuelled by conversational AI can also improve employee experience because service employees can handle fewer, but higher-level service tasks that chatbots might escalate to them.

Adopting new tools to help facilitate consistent and concise answers and help maintain customer experience is on the forefront of many industry minds. Banks such as the Natwest Group have seen this first-hand and are testament to the benefits that a good digital experience can provide. Simon Johnson, Capability Consultant, Digital at NatWest Group highlights NatWest’s use of digital tools during lockdown, “Over the last few months, we’ve learnt how to use digital tools to help our employees remotely. From a banking perspective, there have been a lot of changes including base rates, waive fees and the best ways of contacting our vulnerable customers, ensuring we keep them protected from frauds and scams.

“By introducing our Bold360 chatbot interface, Ella, we’ve been able to get relevant information out quickly, apply the best practice and ensure that our customer journeys are being developed correctly. Due to the volume of questions, some of our customers were finding themselves waiting longer than usual. So digital channels become essential to helping reduce the wait time. Using Bold360, we were able to mitigate issues and answer questions in a more timely way through our chatbot.

“Moving forward, as we open more digital services, we are analysing our data to see if customer will return back to their usual way of banking, now that they’ve seen what a good digital experience can provide. Either way, with Ella, we are ready.”

Chatbots and Humans: The Best Option for Customer Service

Over the last year, banking institutions have recognised the power that digital collaboration can have to their success. Delivering exceptional customer service and support is key for any business wanting to stay competitive in today’s market and banks are especially challenged with precariously balancing customer needs with the cost of personalised support. Leveraging the right technology, such as AI-powered chatbots, will enable the banking industry to provide better support and a more robust customer experience in the long term. Other institutions must follow suit, or risk becoming obsolete.

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A sleeping digital giant wakes? 4 key trends accelerating payments transformation in the US

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A sleeping digital giant wakes? 4 key trends accelerating payments transformation in the US 3

By Lauren Jones, International Payments Ambassador, Icon Solutions

The US payments industry is undoubtedly ripe for change. Before the unprecedented shock of COVID-19, digitization and payments transformation initiatives had been organic, piecemeal and predominately the preserve of the largest banks.

Now, increasing pressure means that financial institutions of all sizes are working to define a digital strategy to unlock new opportunities, drive business value, and stay competitive. But beyond the immediate impact of COVID, what underlying trends are accelerating digitization in the US?

  1. Real-time payments – the stimulus for change  

Real-time payments have been met with a degree of caution by US financial institutions. Risking traditional profit generators in return for potential revenues down the line is a gamble many have not been willing to take. But immediate payments are coming to the US whether banks like it or not.

Major payments infrastructure providers, including NACHA and The Clearing House (TCH), have moved to encourage immediate payment adoption in recent years. But the Fed, frustrated with a slow rate of progress, has announced that it is pressing ahead with the implementation of its FedNow system (despite significant industry objection). Although the Fed’s true intentions are open to interpretation and this may just be a play to accelerate private initiatives, it is a clear signal that they mean business.

This means holdouts risk their own ‘Kodak’ moment if they miss the huge opportunities in front of them by fixating on traditional revenue streams. Banks are in a position to support innovation across entire industries such as healthcare, which could be released from the constraints of paper-based bureaucracy and slow, expensive transactions.

Another opportunity that can be unlocked via instant payments is ISO 20022 (used in the TCH RTP system). It is the future of payments messaging standards and can greatly enhance various payments processes through increased data-carrying capabilities. More importantly given the current climate, citizens reliant on federal or state support can benefit from RTPs combined with additional data to immediately access emergency funds.

  1. The kids are growing up

The US is getting older. Consumers who were 10 when the iPhone first launched are now 23. This means we are seeing a ramp-up of digitally native Gen Z consumers (roughly those born between 1995 and 2010) accessing banking services.

Demographics are an inexact science and not perfect predictors (there are technophobe college students and 100-year-old Instagram influencers), but we can detect noticeable trends.

Younger customers don’t usually choose a bank because there is an ATM in their neighbourhood, a slightly better interest rate or an advert in the newspaper. Rather, a strong digital presence, personalised tools, rewards and experiences, and the trusted recommendations of friends and family, will have a more significant impact on customer acquisition.

Banks must look at the effect this will have on their longer-term digitalization strategy and be able to segment what this emerging customer base might want and how they will interact in years to come.

  1. Checkmate? Evolving corporate requirements

    Lauren Jones

    Lauren Jones

Corporate treasurers are people and their experience of seamless, immediate payments in their personal lives shapes expectations in the workplace. Although check usage for business-to-business (B2B) transactions is still the norm in the US and barriers remain, corporates are increasingly demanding the ability to transact in a real-time, omnichannel environment, 24×7.

The benefits are clear. Corporate treasurers stand to enjoy enhanced liquidity management and transparency, greater control over payments and enhanced data for reconciliation purposes. And for consumers, alternative digital payment options such as buy now pay later promote choice and flexibility.

  1. Increasing competition

A significant consequence of emerging consumer and business demand for digital offerings is the increase in competition from fintechs, technology giants and other third-parties. Traditionally, incumbent banks have enjoyed the advantage of consumer trust to offset more limited innovation. But as consumers become more comfortable entrusting their financial transactions to non-banks, banks must differentiate and digitize to remain competitive.

Data is where the technology giants excel, and their ability to personalise experiences and emotionally connect with their users is unprecedented. Banks need to learn from the positive aspects of this model to better understand their users and deliver meaningful, useful products and services.

For data to become the cornerstone of a banks’ customer relationship and take services to the next level, breaking the channel silos and extracting value from a comprehensive dataset will be decisive. But with only 18% of banks reporting that they are in the process of shifting from a transactional revenue model to a data-driven revenue model, this work has some way to go.

Taking customer propositions to the next level

Customers now expect services that work for them, not their banks. All banks, no matter the footprint, need to move quickly to offer a broad digital service platform that adds value to both the customer and the bank.

By defining a robust payments transformation strategy, banks of all sizes can remain fiercely competitive by rapidly lowering costs, unlocking revenues and promoting innovation

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