The Renewables Infrastructure Group (TRIG) has raised £110.0m from a share issue to help fund the acquisition of a wind farm and battery storage project.
TRIG said 106,796,117 new ordinary shares were issued at a price of £1.03 per share.
It added that the placing was “materially oversubscribed and demand has been scaled back substantially to £110m”.
The company had set an initial target size of £50m for the share placing.
Trading of the shares is expected to start on 3 April.
The proceeds will help with a pipeline of acquisitions, including a 30.6MW onshore wind project in Wales and a 20MW battery storage project in Scotland.
Canaccord Genuity and Liberum Capital acted as joint bookrunners for the placing.
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