Incremental Investment in Hornsea One

20 July 2022

The Renewables Infrastructure Group Limited ("TRIG" or "the Company", a London-listed investment company advised by InfraRed Capital Partners ("InfraRed") as Investment Manager and Renewable Energy Systems ("RES") as Operations Manager)

Incremental investment in Hornsea One offshore wind farm

The Board of TRIG is pleased to announce that the Company has exchanged contracts to acquire a further 2.4% equity interest in the Hornsea One offshore wind farm (the "Project"), which is located off the coast of north-east England, from Global Infrastructure Partners (from whom the Company announced the acquisition of its original stake on 17 March 2022). Upon completion of this incremental investment, TRIG will hold a 10.2% interest in Hornsea One, with the Project representing 9% of TRIG's portfolio, by value.

Hornsea One is well suited to TRIG's strategy of balancing subsidised and unsubsidised revenues to deliver sustainable returns to shareholders and aligning with high quality counterparties.

The project benefits from:

· An inflation-linked Contract-for-Difference ("CfD") subsidy with 13 years remaining.

· Operational management of the windfarm by Orsted under a long-term operations & maintenance contract. Orsted also developed and built the farm using 174 Siemens 7MW turbines.

Hornsea One has demonstrated strong operational performance since operations commenced in 2020. With a generation capacity of 1.2GW and covering an area of 407km2, the project is the largest operational offshore wind farm in the world. The Project generates enough clean electricity to power more than one million homes.

All required consents have been received in respect of TRIG's initial investment in a 7.8% equity interest in the Project, which will complete this month. Completion of the incremental investment is expected to occur, following receipt of consents, by the end of Q3 2022.

Richard Crawford, of InfraRed Capital Partners, said:

"The acquisition of additional investment in Hornsea One, which is currently the world's largest operational windfarm, exemplifies the Company's strategy of investing, including the reinvestment of retained profits, in high quality renewables projects which contribute to European energy security and decarbonisation. TRIG's investment commitments into European renewables total in excess of £400m year-to-date, the majority of which has been in the UK."

Enquiries

InfraRed Capital Partners Limited +44 (0) 20 7484 1800Richard CrawfordPhil George

Minesh Shah

Mohammed Zaheer

Maitland/AMO +44 (0) 20 7379 5151Rhys Jones

Charles Withey

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 countries in Europe with aggregate net generating capacity of over 2.4GW; enough renewable power for 1.7 million homes and to avoid over 2 million tonnes of carbon emissions per annum. TRIG is seeking further suitable investment opportunities which fit its stated Investment Policy.

Further details can be found on TRIG's website at www.trig-ltd.com.

Investment Manager

TRIG's Investment Manager is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in infrastructure projects since 1997. InfraRed is a leading international investment manager, operating worldwide from offices in London, Hong Kong, New York, Seoul and Sydney, and managing equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 100 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed's website at www.ircp.com.

Operations Manager

TRIG's Operations Manager is RES ("Renewable Energy Systems"), the world's largest independent renewable energy company.

RES has been at the forefront of wind energy development for over 40 years, with the expertise to develop, engineer, construct, finance and operate projects around the globe. RES has developed or constructed onshore and offshore wind, solar, energy storage and transmission projects totalling more than 22GW in capacity. RES supports over 9.5GW of operational assets worldwide for a large client base. Headquartered in Hertfordshire, UK, RES is active in 11 countries and has over 3,000 employees engaged in renewables globally.

RES is an expert at optimising energy yields, with a strong focus on safety and sustainability. Further details can be found on the website at www.res-group.com.