Renewables Infrastructure Group has raised £78m through the issue 78m new ordinary shares a price of £1 per share.
The proceeds from the issue will be used to pay down the group’s acquisition facility, which will position the “company to take advantage of the strong pipeline of attractive investment opportunities currently under consideration”.
A total of 16,011,486 new ordinary shares will be issued as the final tranche of the share issuance programme and, because of the strong demand for the issue, an additional 61,988,514 shares will be issued under the company’s tap authority.
Canaccord Genuity and Jefferies acted as joint sponsors and joint bookrunners.
Renewables Infrastructure Group non-executive Helen Mahy chairman said: “We are delighted with the results of this latest issue, which brings the total new equity raised in 2015 to £316m, demonstrating strong, continued appeal of the asset class.
!With the revolving acquisition facility replenished, we continue to pursue opportunities to expand and further diversify our portfolio which currently comprises 658MW of solar and wind assets in the UK, France and Ireland.”
Image: TRIG’s portfolio includes 658MW of wind and solar assets (sxc)
