Proventus Renewables has moved from Plus-quoted to GXG Markets following the completion of its reversal into Captive Audience Display Systems.
Proventus is developing wind farms and solar farms in Bulgaria. The strategy is to create a diversified international portfolio of renewable energy interests.
At a value of between €220,000 and €250,000 per 1MW, the 80% stake in the 200MW Dobrotich wind farm project is valued at €36.8 million. Another subsidiary, Proventus Solar, is involved in solar projects in Bulgaria, which have a value of €18.6 million - based on 75MW at €248,293/MW approved.
Chief executive Todor Todorov has been involved in a number of investment projects in Bulgaria including the development of the first ever wind farm in the country.
Market cap: £58.6 million