Energy company Windlab will use AUD$50m ($40m) of funding it raised through an initial public offering to finance the first 60 MW of a wind, solar and battery storage hybrid project in northern Queensland, Australia. The company issued 25 million shares at $1.60 each, the proceeds of which will be divided between the construction of Kennedy Energy Park first phase and existing investors. Developed in partnership with Eurus Energy Holdings, phase one of the project will cost around $95m.
Energy company Windlab will use AUD$50m ($40m) of funding it raised through an initial public offering to finance the first 60 MW of a wind, solar and battery storage hybrid project in northern Queensland, Australia. The company issued 25 million shares at $1.60 each, the proceeds of which will be divided between the construction of the Kennedy Energy Park's first phase and existing investors. Developed in partnership with Eurus Energy Holdings, phase one of the project will cost around $95m.