15th Jun 2026 08:23
(Alliance News) - Renewables Infrastructure Group Ltd on Monday said it has sold its stake in the Beatrice offshore wind farm, as it progresses towards its GBP400 million capital realisation goal.
The renewable energy investor said it has agreed to sell its entire 17.5% stake in the asset, located off the north-east coast of Scotland, for around GBP155 million. Funds managed by Equitix Investment Management Ltd, an existing co-shareholder, have made the bid in accordance with the asset's pre-emption terms.
"The expected consideration is at a 4% discount to the valuation of TRIG's stake in the Beatrice wind farm as at 31 December 2025 and represents meaningful progress against the 12-month GBP400 million capital realisation target set at the capital markets seminar in May 2026," the company said.
The proceeds will go towards reducing borrowings under TRIG's revolving credit facility, which had GBP240 million drawn as at the end of March.
"As announced alongside the capital markets seminar in May 2026, the board's capital allocation policy remains to prioritise capital return to shareholders via share buybacks, reduce RCF borrowings and invest into higher returning proprietary internal opportunities," the company said.
TRIG also noted that it has completed GBP112 million of its GBP150 million share buyback programme.
TRIG shares were up 0.3% to 74.30 pence each in London on Monday morning.
By Eric Cunha, Alliance News news editor
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