Renewables Infrastructure Group to issue 600 million new shares to fund investment pipeline

Issued at 123p per share

Renewables Infrastructure Group (TRIG) is to issue up to 600 million shares at 123p each, with the trust ready to deploy new funds into a pipeline of potential investments.

Funds raised though the 12-month programme will also be used to finance the trust's outstanding commitments and to repay debt drawn under its revolving credit facility in acquiring assets. The company currently has £65m of drawings under its £500 million revolving credit facility, and, as at 4 March 2021, has outstanding commitments of £392m with regard to a number of investments, £313m of which is expected to fall due before 30 June 2021 In a statement to investors, the board of TRIG highlighted "increasing electrification of the energy system" and the build-out of renewables capabil...