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TRIG lands ₤ 500m debt facility to go after brand-new investments




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TRIG lands ₤ 500m debt facility to go after brand-new investments

Dec 18, 2020 04:47 PM ET

  1. The Renewables Infrastructure Group (TRIG) has actually safeguarded a ₤ 500 million ESG-linked SONIA credit score facility to sustain its new financial investments.

It has actually for that reason successfully re-financed and increased its revolving credit center (RCF), with this having been done at reduced prices. In May 2020, the company raised ₤ 120 million to go towards the RCF, issuing 100 million brand-new regular shares. The re-financed RCF has been provided for a three-year term, with TRIG stating that the bigger size shows its increased scale of acquisitions.

Currently, it has actually purchased a portfolio of over 70 wind, solar and also battery storage space projects with accumulated internet getting capacity of over 1.6 GW and is presently looking for better appropriate investment opportunities.

The consortium of loan providers for the RCF consists of existing loan providers National Australia Bank, Royal Bank of Scotland International and also ING and three brand-new individuals- Sumitomo Mitsui Banking Corporation, Barclays and also Santander.

The rate of interest billed is to be connected to TRIG’s ESG performance, with its targets consisting of raising the variety of residences powered by clean power from its portfolio, raising the number of area funds it supports as well as maintaining a low Lost Time Accident Frequency Rate.

Helen Mahy CBE, chairman of TRIG, claimed: “We’re very honored to have actually protected one of the initial ESG-linked SONIA fundings. We have set ourselves enthusiastic however attainable targets for the next couple of years which highlight our commitment to sustainability and also straighten our interests with our financial obligation as well as equity financiers.”




Tags:


UK

Europe

TRIG

Helen Mahy CBE



Source:

solarpowerportal.co.uk


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