The Renewables Infrastructure Group Ltd. (TRIG), announced that they were able to raise GBP300 million or US$460million. The IPO is the biggest initial public offering in the UK for a clean-power company. TRIG said they will the proceeds of the IPO to invest in solar and onshore wind projects. The company also said that they will use the proceeds to buy 14 onshore wind farms, as well as four solar photovoltaic plants. The projects are located in France, Ireland and the United Kingdom.
"TRIG's diversified portfolio of high quality operational onshore wind and solar photovoltaic generation assets will provide investors with the potential to secure an attractive long-term, stable, inflation-linked yield," Helen Mahy, non-executive chairman of the company, said in the statement.
InfraRed Capital Partners Ltd. will manage Renewables Infrastructure and will be given rights to buy projects built by TRIG. Sir Robert McAlpine Ltd.'s RES, will hold 5 percent of the issued share capital.
Join the Conversation