UK's TRIG sells offshore wind farm stake for $208.2 million

en.Wedoany.com Reported - TRIG (Renewable Energy Infrastructure Group Limited) will sell its entire 17.5% stake in the 588 MW Beatrice offshore wind farm for approximately £155 million ($208.2 million) to a binding offer from a co-shareholder.

TRIG has decided to transfer its stake in the Beatrice offshore wind farm off the northeast coast of Scotland to funds managed by Equitix Investment Management. The company stated that this move is a substantial step toward its target of realizing £400 million in capital within 12 months.

Proceeds from the sale will be used to repay drawings under the company's revolving credit facility, which had approximately £240 million drawn as of March 31, 2026. Combined with this transaction, the group's total borrowings will be reduced by £375 million from around £2.1 billion.

The consideration represents a discount of approximately 4% to the valuation of TRIG's stake in the Beatrice wind farm as of December 31, 2025.

The company added that the completion of the transaction remains subject to uncertainty and depends on the signing of final documents and satisfaction of customary conditions precedent. Contract signing is expected to be scheduled in the third quarter of 2026, and if the third-party consent process proceeds smoothly, the transaction could be completed by the end of the year.

Managing Director Minesh Shah said the company had been in negotiations with a preferred bidder, and the co-shareholder's decision to exercise its pre-emption rights demonstrates that TRIG's renewable energy assets remain attractive to private market buyers, a trend also evidenced in other transactions.

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