(Bloomberg) — The Renewables Infrastructure Group Ltd., a
London-based clean-energy fund, is boosting its latest share
offer to 102.25 million pounds ($152 million) in response to
The fund is issuing an additional 32.5 million new shares
on top of the 62.5 million it originally offered after demand
“significantly exceeded” expectations, it said in a statement
Friday. The shares will be priced at 102.25 pence apiece, taking
expected proceeds to 102.25 million pounds, it said.
The money will be used to “take advantage of its pipeline
of attractive investment opportunities” and repay some debt.
TRIG raised 300 million pounds in 2013 to buy wind and
solar-power plants. It currently owns onshore wind farms and
solar parks across the U.K., France and Ireland. The fund is
managed by InfraRed Capital Partners Ltd. It has the rights to
buy projects built by Renewable Energy Systems Ltd., a developer
of renewable-electricity facilities.
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Ana Monteiro, Randall Hackley