The Renewables Infrastructure Group (TRIG) is selling its 17.5% stake in the Beatrice offshore wind farm in the UK to existing co-shareholder funds managed by Equitix Investment Management for 拢155m (鈧�179m).
The London-listed investment company, advised by InfraRed Capital Partners, said it has received a binding offer for its entire equity interest in the 588MW offshore wind farm, located off the north-east coast of Scotland, following the exercise of a pre-emption right by the Equitix-managed funds.
TRIG originally acquired its 17.5% stake in 2021 from Copenhagen Infrastructure Partners (CIP). The transaction took place alongside Equitix, which simultaneously acquired its own 17.5% interest as CIP exited the project.
The joint acquisition gave the pair equal holdings alongside existing shareholders SSE and Red Rock Power, who held 40% and 25% stakes, respectively.
TRIG said it will use the proceeds to reduce drawings under its revolving credit facility, which was drawn to approximately 拢240m at the end of March.
TRIG said the expected disposal price represents a 4% discount to the valuation of its stake in the Beatrice wind farm as at 31 December 2025. The sale marks 鈥渕eaningful progress鈥� against the firm鈥檚 12-month, 拢400m capital realisation target, which was announced at its Capital Markets Seminar last month, it added.
Minesh Shah, managing director at TRIG, said: 鈥淭he expected 拢155m consideration for our stake in the Beatrice offshore wind farm represents meaningful progress towards our 12-month 拢400m capital realisation target that we set out in May 2026, with further divestments underway.
鈥淗aving been in discussions with a preferred bidder, the pre-emption by a co-shareholder demonstrates the continued attraction of TRIG鈥檚 renewables investments to private market investors, which we are also seeing in other processes.鈥�
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