CEO of Wigton Energy, Gary Barrow says an Additional Public Offering (APO) is not off the table as the company considers ways to fund its new solar project.
Speaking on Taking Stock with Kalilah Reynolds, Barrow explained that the company was recently awarded 50 megawatts of the government’s 100-megawatt renewable energy project.
The CEO said Wigton is exploring a mix of equity and debt to fund the project. An APO is one option on the table, which could help minimise reliance on debt financing. According to Barrow, discussions with financiers and potential investors are ongoing, and the company is still negotiating final project costs with its engineering, procurement, and construction (EPC) contractor.
The expansion is part of Wigton’s evolution from being a wind-only energy provider into a broader renewable energy leader. The company recently rebranded from Wigton Windfarm to Wigton Energy to reflect this shift.
"We are signalling to the market, to our clients, and to the world that we are bigger than just wind right now," Barrow said.
He said once the project is finished it will more than double Wigton’s renewable energy capacity boosting it from 62 megawatts of wind power to over 130 megawatts of combined wind and solar energy.
Barrow said the solar venture is part of Wigton’s strategy to diversify its energy portfolio while continuing to lead in renewable energy innovation. With this new project, Wigton aims further to cement its reputation as a renewable energy trailblazer and expand its impact on the region's clean energy future.