10 March
2025
The Renewables Infrastructure Group
Limited
"TRIG" or "the Company", a
London-listed renewables investment company advised by InfraRed
Capital Partners ("InfraRed") as Investment Manager and Renewable
Energy Systems ("RES") as Operations Manager.
Completion of German Offshore wind sell down
· Completion of the sale of a 15.2% equity stake in the Gode One
offshore wind farm at a 9% premium to carrying value
· Proceeds of €100m received and have been used to reduce
borrowings under the Company's Revolving Credit Facility (RCF) to
£228m
TRIG announces that the sale of a
15.2% equity interest in the 330MW Gode offshore wind farm project
in Germany, reported on 1 August 2024, has completed following the
receipt of relevant consents and clearances with proceeds of €100m
received. TRIG retains a 9.8% equity interest in the project. The
sale proceeds have been applied to reduce borrowings under the
Company's RCF to £228m.
This completed sale brings the total
of divestment proceeds received by TRIG in the past 24 months to
£210m at an average 11% premium to carrying values. These
disposals, together with further disposals and financings being
pursued by the Managers, underpinned the Board's decision to
increase the Company's share buyback programme, as previously
announced, from £50m to £150m.
Enquiries
InfraRed Capital Partners
Limited
+44 (0) 20 7484 1800
Minesh Shah
Phil George
Mohammed Zaheer
Brunswick
+44 (0) 20 7404 5959 / TRIG@brunswickgroup.com
Mara James
Investec Bank
Plc
+44 (0) 20 7597 4000
Lucy Lewis
Tom Skinner
BNP
Paribas
+44 (0) 20 7595 9444
Virginia Khoo
Carwyn Evans
Notes
The Company
The Renewables Infrastructure Group
("TRIG" or the "Company") is a leading London-listed renewable
energy infrastructure investment company. The Company seeks to
provide shareholders with an attractive long-term, income-based
return with a positive correlation to inflation by focusing on
strong cash generation across a diversified portfolio of
predominantly operating projects.
TRIG is invested in a portfolio of
wind, solar and battery storage projects across six markets in
Europe with aggregate net generating capacity of 2.7GW; enough
renewable power for 1.8 million homes and to avoid 2.2 million
tonnes of carbon emissions per annum.
Further details can be found on
TRIG's website at www.trig-ltd.com.
Investment Manager
InfraRed Capital Partners is an
international infrastructure asset manager, with more than 160
professionals operating worldwide from offices in London, Madrid,
New York, Sydney and Seoul. Over the past 25 years, InfraRed has
established itself as a highly successful developer and steward of
infrastructure assets that play a vital role in supporting
communities. InfraRed manages US$13bn of equity capital1
for investors around the globe, in listed and private funds across
both core and value-add strategies.
InfraRed is part of SLC Management,
the institutional alternatives and traditional asset management
business of Sun Life.
For more information, please
visit www.ircp.com.
1 Uses 5-year average FX as at 30th June 2024 of GBP/USD of
1.2821; EUR/USD 1.1141. EUM is USD 12.741m.
Operations Manager
TRIG's Operations Manager is RES
("Renewable Energy Systems"). RES is the world's largest
independent renewable energy company, working across 24 countries
and active in wind, solar, energy storage, biomass, hydro, green
hydrogen, transmission, and distribution. An industry innovator for
over 40 years, RES has delivered more than 24GW of renewable energy
projects across the globe and plans to bring more than 22GW of new
capacity online in the next five years.
As a service provider, RES has the
skills and experience in asset management, operations and
maintenance (O&M), and spare parts - supporting 41GW of
renewable assets across 1,300 sites. RES brings to the market a
range of purposeful, practical technology-based products and
digital solutions designed to maximise investment and deployment of
renewable energy. RES is the power behind a clean energy future
where everyone has access to affordable zero carbon energy bringing
together global experience, passion, and the innovation of its
4,500 people to transform the way energy is generated, stored and
supplied.
Further details can be found on the
website at www.res-group.com.
