The Renewables Infrastructure Group (TRIG) is planning to launch a 12-month share issuance program involving 600 million new shares at £1.23 ($1.71) per share.
The issue price represents a discount of 5.7 percent to the closing mid-market share price of £1.304 ($1.81) per share.
TRIG is planning to use the proceeds of each issue to make investments in renewable energy, including outstanding commitments, and repaying debt drawn under the revolving credit facility.
“Investment in renewables is at the heart of the transition to net-zero carbon economics,” said Helen Mahy CBE, chairman of TRIG. “Further growth of the portfolio, financed through this share issuance program, will increase TRIG's contribution to decarbonization, whilst also delivering to investors an attractive dividend yield.”
TRIG said it is important to offer all investors the opportunity to participate in the company's growth, including smaller private shareholders who are not perm
