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Pin to quick picksRenewables Infrastructure Group Regulatory News (TRIG)

Share Price Information for Renewables Infrastructure Group (TRIG)

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Renewables Infrastructure Group is an Investment Trust

To provide investors with long-term dividends while preserving the capital value of its investment portfolio through investment principally in operational assets which generate electricity from renewable energy sources.

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Potential Major Portfolio Acquisition

19 Jun 2015 07:00

RNS Number : 6247Q
Renewables Infrastructure Grp (The)
19 June 2015
 



19 June 2015

The Renewables Infrastructure Group Limited("TRIG" or the "Company" and, together with the holding company subsidiaries, the "Group", a London-listed investment company advised by InfraRed Capital Partners as investment manager and Renewable Energy Systems as operations manager)

Potential Major Portfolio Acquisition

TRIG is pleased to announce that it is at an advanced stage of exclusive discussions with Fred. Olsen Renewables Limited (the "Vendor") regarding the potential acquisition of a significant minority interest in a portfolio of six operational onshore wind projects in Scotland, totalling 433MW of capacity, developed by the Vendor (the "Potential Acquisition"). The Potential Acquisition is in line with the Company's investment policy.

The Potential Acquisition is expected to be funded by the Group's existing cash resources and by an extension of the Group's acquisition facility (within the limits set out in the Company's investment policy) to be repaid in due course out of subsequent new equity issue proceeds. As announced on 5 June, the Company expects to issue further equity under its Share Issuance Programme ("SIP") during June or July 2015.

Further announcements will be made by the Company in due course in respect of the Potential Acquisition, share issuance under the SIP or the Company's other acquisition pipeline opportunities under review by InfraRed Capital Partners Limited, TRIG's investment manager.

Enquiries

InfraRed Capital Partners Limited +44 (0) 20 7484 1800Richard CrawfordMatt Dimond

Tulchan Communications +44 (0) 20 7353 4200Martha WalshCamilla Cunningham

Canaccord Genuity Limited +44 (0) 20 7523 8000Andrew ZychowskiLucy Lewis

Jefferies International Limited +44 (0) 20 7029 8000Gary GouldStuart Klein

 

NOTES TO EDITORS:

TRIG

TRIG is a leading renewable energy infrastructure company delivering long-term, stable dividends from a diversified portfolio of onshore wind and solar photovoltaic projects in the UK and Northern Europe. The Company is seeking to provide investors with long-term, stable dividends, while preserving the capital value of its investment portfolio through re-investment of surplus cash flows after payment of dividends. TRIG is targeting an aggregate dividend of 6.16 pence per Ordinary Share for the period from 1 July 2014 to 30 June 2015 and aims to increase this dividend in line with inflation over the medium term.

TRIG currently owns a portfolio of 30 wholly-owned assets in the UK, France and the Republic of Ireland. The Group 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 or www.trig-ltd.com/video

InfraRed

TRIG's Investment Manager is InfraRed Capital Partners ("InfraRed").

InfraRed is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Paris, Seoul and Sydney. With over 100 professionals it manages in excess of USD 8 billion of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.

Since its inception over 25 years ago, InfraRed has launched 15 funds, including two companies listed on the London Stock Exchange: HICL Infrastructure Company Limited and The Renewables Infrastructure Group. To date, six of these funds have been realised.

InfraRed has a long and successful proven track record in sourcing, structuring, acquiring, managing and financing infrastructure equity investments. Its history stretches back over 15 years to a time when it advised the UK government on its Public Private Partnership (PPP) programme. Since then, InfraRed has been responsible for over 160 infrastructure equity investments across various sectors including accommodation, education, government, health, renewables and transportation.

Since 2006, InfraRed has been actively participating in the secondary infrastructure markets, expanding its long-standing presence in the development infrastructure market. It currently manages over 150 infrastructure assets and its renewable energy portfolio has a generation capacity of more than 700 MW. InfraRed has c. USD 5 billion of equity invested in infrastructure projects around the globe.

InfraRed is authorised and regulated by the Financial Conduct Authority.

RES

The Operations Manager of the Group is Renewable Energy Systems Limited ("RES"). RES is one of the world's leading renewable energy companies with extensive experience in developing, financing, constructing and operating renewable energy infrastructure projects globally across a wide range of low carbon technologies including both onshore and offshore wind and solar, as well as enabling technologies such as energy storage and demand-side management.

RES has been at the forefront of wind energy development for over 30 years. Since incorporation, RES has developed and/or constructed more than 140 individual wind farms and PV parks around the world with a combined capacity of over 9,000 MW.

In recognition of extraordinary business success in growing revenues from international markets, RES was awarded its second Queen's Award for Enterprise in 2013, this time for International Trade. Today, projects developed and/or built by RES are contributing to meeting the needs of a rapidly-evolving energy market and, in doing so, are actively contributing to a more sustainable world.

RES's global headcount totals over 1,200 staff based in fourteen countries across five continents.

 

Ends

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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