June 25 (SeeNews) - Singapore-based company Sindicatum Renewable Energy announced on Wednesday it has filed a draft registration statement regarding the proposed listing in the US of a yieldco vehicle.
The renewable energy firm said in a press release it has confidentially submitted documents to the US Securities and Exchange Commission (SEC) for an initial public offering (IPO). It noted that the number of securities to be sold and the price range for the planned offering are yet to be determined.
The IPO is seen to be launched as soon as the SEC concludes its review process, according to the statement.
Sindicatum is a developer, owner and operator of small-scale renewable energy plants in South and South East Asia. The company is mainly focused on bagasse co-generation, biogas-to-energy and solar energy projects, but it did not specifically mention what type of facilities it plans to transfer to the new yieldco.
At the end of 2014, Sindicatum had about 208 MW of clean energy assets in its portfolio plus a further 400 MW in development. In December, it agreed to acquire 49% stakes in operating co-generation power units totalling 69 MW at two sugar complexes in Uttar Pradesh, India. It also gained an option to add 111 MW more to its portfolio.