The Renewables Infrastructure Group (TRIG) has announced that it has completed on the sale of a 15.2% equity interest in the 330MW Gode offshore wind farm project in Germany, originally announced on 1 August 2024, at a 9% premium to carrying value. The completion follows the receipt of relevant consents and clearances, and TRIG has received proceeds of €100m, which have been applied to reduce the borrowings under its RCF to £228m. TRIG retains a 9.8% equity interest in the project.

This completed sale brings the total of divestment proceeds received by TRIG in the past 24 months to £210m at an average 11% premium to carrying values. TRIG says that these disposals, together with further disposals and financings being pursued by the managers, underpinned the board’s decision to increase its share buyback programme, as previously announced, from £50m to £150m.