IN BRIEF: Renewables Infrastructure pays down debt as completes sale

Renewables Infrastructure Group Ltd - Guernsey-registered renewable energy investor - The company, known as TRIG, completes the sale of its 17.5% equity stake in the Beatrice wind farm project offshore Scotland, receiving £157 million. The disposal was first announced in June. Pre-emption rights to acquire the stake were exercised by TRIG's co-owner, funds managed by Equitix Investment Management Ltd. The sale is a 40% step toward TRIG's target, set out in May, to raise £400 million from asset sales. TRIG will use the cash from Beatrice to reduce borrowings under its revolving credit facility to £184 million. Overall debt, including exposure to £210 million in project-level borrowings for TRIG's share of Beatrice, fall by £365 million to £1.7 billion, which is 43% of enterprise value.

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12-month change: up 2.6%

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