Share Prices & Company Research

Market News

15 Sep 2021 | 12:08

Renewables Infrastructure to raise £200m

(Sharecast News) - The Renewables Infrastructure Group is to raise £200m by issuing new shares, the investment firm said on Wednesday, to pay down amounts drawn under its revolving credit facility and to fund investment in Iberia. London-listed Trig, which invests in renewable energy projects, will issue around 161.3m new ordinary shares at 124p per share, raising gross proceeds of £200m in aggregate.

The cash will be used to pay down the company's revolving credit facility, which was used to help fund the acquisition of four solar sites in Iberia earlier this month.

The share issuance programme, first announced on 31 August, was "significantly oversubscribed", Trig said, and a scaling back exercise therefore took place. It was agreed in consultation with managers and bookrunners to size the issue at £200m specifically to help repay the facility

Helen Mahy, chair, said: "We are delighted with the strong support from existing shareholders and new investors in this fundraising. The proceeds of the issues will be used in part to fund Trig's first investment in Iberia, a landmark, adding further to Trig's geographic and technological diversification."

As at noon BST, shares in Trig were ahead 2% at 127.57p. Admission of the new shares is expected to be effective from 0800 BST on Friday 17 September.

Trig is invested in a portfolio of over 80 wind, solar and battery storage projects. Its investment manage is InfraRed Capital Partners.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.