The Renewables Infrastructure Group (TRIG) has issued 100m New Ordinary Shares, raising gross proceeds of £120m.

The net proceeds of the Issue will be applied in repaying amounts drawn under the Company's revolving credit facility (RCF).

Allowing for the expected receipts from the partial sell down of Merkur and sale of Erstrask Phase 1 in Q3, the RCF is now expected to be fully repaid with surplus cash of c.£70m by September 2020. The balance will be deployed in the acquisition of further investments and to fund the Company's commitments to construction projects of £35m due during the remainder of 2020 and 2021.

Helen Mahy CBE, Chairman of TRIG, said:
"We are delighted with the strong support shown by our investors, and that the Company's stock remains in such high demand in these challenging times. We believe this is an endorsement of TRIG's careful management and acquisition discipline, and the stability of the returns being generated from our diversified portfolio, with a large proportion of revenues coming from contracted sources."

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