REG - Renew Infra Grp Ld - TRIG secures £200m private debt placement

Renewables InfrastructureAnnouncement

12/02/2026 07:00

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RNS Number : 6665S  Renewables Infrastructure Grp (The)  12 February 2026

 

 

The Renewables Infrastructure Group Limited

"TRIG" or "the Company"

 

12 February 2026
 

TRIG secures £200m private debt placement

·      Diversifying capital sources with a £200m placement with
high-quality, institutional lenders

·      Proceeds reducing RCF borrowings to c. £200m, providing greater
capital allocation headroom

·      Strong investor demand resulting in upsized issue vs initial
target of £150m

·      Attractive fixed-rate interest rate of 5.23% (averaged across
Sterling and Euro tranches)

·      12-year term and amortisation schedule aligns with TRIG's fixed
revenue profile

The Board of TRIG, a London-listed renewables investment company advised by
InfraRed Capital Partners ("InfraRed") as Investment Manager and Renewable
Energy Systems ("RES") as Operations Manager, announces the private placement
of £200m (the "Issue") of fixed-rate loan notes ("the Notes") with Sterling
and Euro tranches by its corporate subsidiary, The Renewables Infrastructure
Group (UK) Investments Limited.

Minesh Shah, Managing Director, said: "We are delighted with the strong
investor demand for TRIG's first private placement, which further diversifies
our sources of capital. The depth of interest from highly experienced lenders,
which is reflected in the upsizing of the issuance to £200m and the
attractive interest rate achieved, demonstrates the confidence in TRIG's
financial position, underlying portfolio quality and strategic direction. We
are pleased to achieve this milestone, which enhances our capital allocation
headroom and long-term growth prospects."

TRIG was able to upsize the issue to £200m, compared with an initial target
raise of £150m, and to secure more competitive pricing thanks to significant
over-subscription. The Notes are comprised of two tranches: £100m in Sterling
and €115m (£100m equivalent) in Euros, reflecting the diversified nature of
the underlying portfolio across the UK and Europe.

Proceeds of the Issue will be used to reduce the existing drawings under the
Group's £500m revolving credit facility ("RCF"), which amounted to £398m as
of 31 December 2025, to c. £200m. The Notes extend the Company's debt
maturity profile by converting the equivalent drawing on the RCF into a
longer, amortising tenor. With a weighted average interest rate of 5.23%, the
Notes also fix the all-in interest rate cost at a level consistent with that
currently payable on the RCF.

The Notes have a maturity date of February 2038 and amortise in equal
instalments of £20m every six months from August 2033 to February 2038
(inclusive). The maturity of the Notes aligns with TRIG's current fixed price
revenue forecast profile. The Managers are actively securing new power price
fixes to extend further the horizon of TRIG's fixed price revenues.

The Notes diversify further the Company's available capital sources in line
with the refreshed strategy set out by the Managers at the Capital Markets
Seminar in May 2025. The Board and Managers continue to maintain a
conservative approach to balance sheet management, focusing on further
reducing RCF drawings and with headroom to self-fund TRIG's development
pipeline from organic cash flows and debt capacity.

The Notes were purchased by an institutional investor group including Canada
Life, Pension Insurance Corporation, Legal & General, Swiss Re and Nomura
Asset Management (on behalf of clients).

Enquiries

InfraRed Capital Partners
Limited                        +44 (0) 20 7484 1800

Minesh Shah

Phil George

Mohammed Zaheer

 

Brunswick
+44 (0) 20 7404 5959 / TRIG@brunswickgroup.com

Diana Vaughton

Charles Malissard

 

Investec Bank
Plc
+44 (0) 20 7597 4000

Lucy Lewis

Tom Skinner

 

BNP
Paribas
+44 (0) 20 7595 9444

Virginia Khoo

Carwyn Evans

Notes

The Company

The Renewables Infrastructure Group ("TRIG" or the "Company") is a leading
London-listed renewable energy infrastructure investment company. The Company
seeks to provide shareholders with an attractive long-term, income-based
return with a positive correlation to inflation by focusing on strong cash
generation across a diversified portfolio of predominantly operating projects.

 

TRIG is invested in a portfolio of wind, solar and battery storage projects
across six markets in Europe with a net operational capacity of 2.3GW; enough
renewable power for 1.8 million homes and to avoid 2.0 million tonnes of
carbon emissions per annum.

 

Further details can be found on TRIG's website at www.trig-ltd.com
(http://www.trig-ltd.com) .

 

Investment Manager

 

InfraRed is a leading international mid-market infrastructure asset manager.
Over the past 25 years, InfraRed has established itself as a highly successful
developer, particularly in early-stage projects, and an active steward of
essential infrastructure.

InfraRed manages US$13bn of equity capital(1) for investors around the globe
in listed and private funds across both core and value-add strategies.

InfraRed combines a global reach, operating worldwide from offices in London,
Frankfurt, Madrid, New York, Sydney and Seoul, with deep sector expertise from
a team of more than 160 people.

InfraRed is part of SLC Management, the institutional alternatives and
traditional asset management business of Sun Life, and benefits from its scale
and global platform.

For more information, please visit www.ircp.com. (https://www.ircp.com)

(1) Uses five-year average FX as at 31 December 2024 of GBP/USD of 1.2818;
EUR/USD 1.1092. EUM is USD 13.186bn.

 

Operations Manager

TRIG's Operations Manager is RES ("Renewable Energy Systems"). RES is the
world's largest independent renewable energy company, working across 24
countries and active in wind, solar, energy storage, biomass, hydro, green
hydrogen, transmission, and distribution. An industry innovator for over 40
years, RES has delivered more than 24GW of renewable energy projects across
the globe and plans to bring more than 22GW of new capacity online in the next
five years.

As a service provider, RES has the skills and experience in asset management,
operations and maintenance (O&M), and spare parts - supporting 41GW of
renewable assets across 1,300 sites. RES brings to the market a range of
purposeful, practical technology-based products and digital solutions designed
to maximise investment and deployment of renewable energy. RES is the power
behind a clean energy future where everyone has access to affordable zero
carbon energy bringing together global experience, passion, and the innovation
of its 4,500 people to transform the way energy is generated, stored and
supplied.

Further details can be found on the website at www.res-group.com
(http://www.res-group.com/) .

 

 

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