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Prices & Quotes - UK Markets - The Renewables Infrastructure Group Limited (TRIG)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
128.40p
Change Today:
0.000p
Market Cap:
2,236.63m
Sector:
Equity Investment Instruments

TRIG agrees to acquire German offshore wind farm

By Iain Gilbert

Date: Tuesday 10 Dec 2019

LONDON (ShareCast) - (Sharecast News) - Investment outfit The Renewables Infrastructure Group has exchanged contracts to acquire a 36% interest in a 396-megawatt offshore wind farm located in the German North Sea.
TRIG partnered with Dutch pension investor APG, which will acquire the remaining 64% of the Merkur Offshore project, and also intends to sell down a share to minority co-investors, leaving the firm with an approximate 25% stake in the project.

The FTSE 250 company's investment will be financed from a combination of the proceeds of its recent capital raising and a draw-down from its revolving acquisition facility.

Once completed, the investment will represent roughly 8% of TRIG's total portfolio value.

TRIG said Merkur comprises 66 GE Haliade-150 6-megawatt offshore wind turbines and also benefits from an "attractive" feed-in-tariff for the next 13.5 years, followed by a floor price for a further six years.

Chairman Helen May said: "The board of TRIG is delighted to announce the company's third offshore wind investment and our second investment in Germany.

"We are pleased to be growing our presence in the European offshore wind market which is making an increasingly important contribution to the decarbonisation of energy usage."

As of 0830 GMT, TRIG shares had ticked up 0.19% to 128.85p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TRIG Market Data

Currency UK Pounds
Price 128.40p
Change Today 0.000p
52 Week High 139.60p
52 Week Low 100.00p
Volume 3,118,658
Shares Issued 1,741.93m
Market Cap 2,236.63m

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TRIG Dividends

  Latest Previous
  Q3 Q2
Ex-Div 12-Nov-20 13-Aug-20
Paid 31-Dec-20 30-Sep-20
Amount 1.69p 1.69p

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 491,873 @ 128.40p
16:29 7 @ 128.60p
16:29 70 @ 128.20p
16:29 2,000 @ 128.20p
16:29 1,108 @ 128.20p

TRIG Key Personnel