October 11 (Renewables Now) - The Renewables Infrastructure Group Ltd (LON:TRIG) raised GBP 227.6 million (USD 283m/EUR 256.6m) gross earlier in October in a heavily oversubscribed share issue.
The UK-based investment company will use the proceeds to repay amounts drawn under its Revolving Acquisition Facility and for further investments. It said it has a strong pipeline of potential investment opportunities in markets like the UK, France and Germany.
TRIG will issue 185 million new shares, being the maximum amount left under the Share Issuance Programme from March 2019. Demand from investors has exceeded that limit.
According to its website, the company has is invested in 71 wind, solar and battery projects in the UK and Europe so far. These have a combined capacity of 1.5 GW.