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 £155m (€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 £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 “meaningful progress” against the firm’s 12-month, £400m capital realisation target, which was announced at its Capital Markets Seminar last month, it added.
Minesh Shah, managing director at TRIG, said: “The expected £155m consideration for our stake in the Beatrice offshore wind farm represents meaningful progress towards our 12-month £400m capital realisation target that we set out in May 2026, with further divestments underway.
“Having been in discussions with a preferred bidder, the pre-emption by a co-shareholder demonstrates the continued attraction of TRIG’s renewables investments to private market investors, which we are also seeing in other processes.”
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