The Renewables Infrastructure Group (TRIG) is planning to raise £240m (€278m) via a share issue to help investments and repay debt.

The FTSE 250 renewable infrastructure investment company is calling on new and existing retail and institutional investors to buy 195m shares at 123p each. The offer price represents a 5.7% discount to the last closing mid-market share price of 130.4p.

TRIG said the directors have reserved the right to increase the size of the initial issue to £300m in the event that the overall demand for the shares exceeds the target size.

Helen Mahy, TRIG’s chairman, said: “TRIG’s diversified portfolio of wind farms and solar parks across the UK and continental Europe is capable of powering over one million homes and displacing over 1.3m tonnes of carbon emissions per annum.

“Further growth of the portfolio, financed through this share issuance programme, will increase TRIG’s contribution to decarbonisation, whilst also delivering to investors an attractive dividend yield. We welcome investment from existing and new, private and institutional, shareholders.”

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