Published: 18 Dec 2020, 12:23
By:
Reporter, Solar Power Portal
TRIG chairman Helen Mahy CBE with RES chairman Gavin McAlpine and Scottish minister Ivan McKee at the Broxburn Energy Storage facility in 2018. Image: RES.
The Renewables Infrastructure Group (TRIG) has secured a £500 million ESG-linked SONIA credit facility to support its new investments.
It has therefore successfully refinanced and expanded its revolving credit facility (RCF), with this having been done at lower rates. In May 2020, the company raised £120 million to go towards the RCF, issuing 100 million new ordinary shares. The refinanced RCF has been made available for a three-year term, with TRIG stating that the larger size reflects its increased scale of acquisitions.
Renewables Infrastructure Secures GBP500 Million ESG-Linked Facility
Fri, 18th Dec 2020 09:49
(Alliance News) - Renewables Infrastructure Group Ltd on Friday announced that it has refinanced and expanded its revolving credit facility at lower rates to support investments in renewable energy projects.
The GBP500 million facility is available to the investment firm for a three-year term, and the interest will be charged in respect of the renewed facility is linked to the company s Environmental, Social and Governance performance.
Performance targets include an increase in the number of homes powered by clean energy from Renewables Infrastructure s portfolio, a rise in the number of community funds supported, and the maintenance of a low Lost Time Accident Frequency Rate.