The Renewables Infrastru... Investors - TRIG

The Renewables Infrastru... Investors - TRIG

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Stock Name Stock Symbol Market Stock Type
The Renewables Infrastructure Group Limited TRIG London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-2.60 -1.98% 128.60 16:35:10
Open Price Low Price High Price Close Price Previous Close
131.80 127.80 132.20 128.60 131.20
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Industry Sector
ALTERNATIVE ENERGY

Top Investor Posts

Top Posts
Posted at 08/9/2022 08:56 by davebowler
Liberum;
Renewable Infrastructure Group

Battery storage investment

Mkt Cap £3,510m | Share price 141.60p | Prem/(disc) 5.8% | Div yield 4.8%

Event

Renewable Infrastructure Group (TRIG) acquired the right to develop three battery storage sites in the North of England. The first two projects are scheduled for grid connection in 2024 and 2025 and will have a capacity of 165MW with a two-hour duration. The third site (85MW) will be built later and is expected to be connected in 2029, possibly earlier. Once the first two sites are built and connected to the grid (2025), they will represent an estimated 4% of the portfolio by value. The sites each have land rights, planning permission and grid connection agreements secured. While energy storage is a relatively new investment for TRIG, the managers (InfraRed and RES) have extensive knowledge, in the sector going back over a decade. The managers also are mindful of the sustainability challenges, particularly in the supply chain of battery materials and these considerations will be reflected in the procurement framework.

Liberum view

This investment is a key milestone as it follows through on the strategy laid out at the CMD in April. Currently, battery storage accounts for only 0.4% of the portfolio, but will grow tenfold based on this investment. As renewable energy becomes a more important part of the electricity grid flexible capacity is increasingly needed to smooth intraday variability in the availability of renewable energy. We believe that in the foreseeable future flexible capacity installations have higher operating margins because there is chronic underinvestment in the sector so far. Furthermore, revenues from energy storage tend to have a low correlation with wholesale power prices received by renewables generators. The projects developed by TRIG also have the added advantage of having a two-hour duration, which is at the longer end of such projects and allows TRIG to extend its trading options in the wholesale market

Investors also seem to place a larger premium on energy storage as evidenced by the premia to NAV of the two oldest pure-play energy storage investments in the market, which trade at an average premium of 20.6% compared to the 5.8% premium for TRIG and 1.6% premium to NAV for renewable energy infrastructure ex energy storage overall.

Posted at 24/3/2022 15:12 by mrcontrarian1
@cc2014. This sort of fund raise was never AJ Bell or HL’s business in first place. Traditionally accelerated book builds / equity taps were only offered to institutional shareholders and excluded retail / private investors and therefore not available on the likes of AJ or HL. PrimaryBid is just eating into what the institutional investors are offered, which I think is a good thing.
For a traditional rights issue this is available via HL / AJ Bell as a corporate action, it’s just the company (TRIG) finds it cheaper, quicker and easier to raise cash this way.
But at 132p for new shares issued, think existing shareholders who have not taken part in new share issue are getting a good deal as well above NAV

Posted at 17/3/2022 08:40 by mrcontrarian1
Equity raise today via book build but available on Primary Bid. Min price 130p. Investor presentation at 9:30am, see RNS for details
Posted at 31/8/2021 08:02 by andyadvfn1
Quite Mickey Mouse indeed. Maybe they are aiming for a new group of investors.
Posted at 08/5/2021 02:56 by steve73
Is that not the definition of a real Ponzi scheme...?

Where the cash from new investors is used to pay the dividends for the existing ones... let alone those wishing to "cash-out".

Posted at 05/3/2021 21:29 by stewart64
On the first day after the November placement the price fell 5.2p from 132.4 to 127.2. 1.2p above the offer price of 126.0p.

This time the Market has trimmed 7.2p and taken the price to within 0.2p of the offer. The trajectory suggests we might go under offer price for much of the extended offer period ( last time it was a fairly short timetable) and that really isn't good for a successful ipo. Though they'll probably get there...195 million shares isn't a lot. One hopes so, because presumably they are counting on the money to pay down debt from the revolving credit facility.
The really galling point is that this short changes the November investors of the sub ipo..126p minus 1.69p divi equals 124.31p. Now we are going backwards to 123p.
As well as risking investor's ire the renewables sectors is on its knees this week. Greencoat is trading nearly 4p below its recent " discounted" ipo. GCP Infrastructure hss gone into complete meltdown and now trading at a substantial nav discount for the first time in its trading history.
Who knows, next week might prove better. But Trig really hasn't picked the best week to launch.

Posted at 05/3/2021 08:17 by rik shaw
195 million new shares targetted at 123p

The Initial Issue

Under the Initial Placing, the Initial Open Offer, the Initial Offer for Subscription and the Intermediaries Offer, the Company is seeking to issue up to 195 million New Ordinary Shares at an issue price of 123 pence per New Ordinary Share. Approximately 190.3 million New Ordinary Shares are being reserved for Shareholders under the Initial Open Offer under which Shareholders will be entitled to subscribe for one New Ordinary Share for every 10 Ordinary Shares held on the Record Date. The balance of the New Ordinary Shares available under the Initial Issue (including any entitlements not taken up under the Initial Open Offer) will be allocated to the Initial Placing, the Initial Offer for Subscription, the Intermediaries Offer and/or the Excess Application Facility at the absolute discretion of the Company, in consultation with the Joint Bookrunners.

The Initial Open Offer and Excess Application Facility

Under the Initial Open Offer, up to an aggregate amount of approximately 190.3 million New Ordinary Shares will be made available to Qualifying Shareholders at the Issue Price pro rata to their holdings of Existing Ordinary Shares, on the terms and subject to the conditions of the Initial Open Offer, on the basis of:

1 New Ordinary Share for every 10 Existing Ordinary Shares held at the Record Date (being the close of business on 3 March 2021).

The balance of the New Ordinary Shares to be made available under the Initial Issue, together with any New Ordinary Shares not taken up pursuant to the Initial Open Offer, will be made available under the Excess Application Facility, the Initial Placing, the Initial Offer for Subscription and/or the Intermediaries Offer at the absolute discretion of the Company, in consultation with the Joint Bookrunners.

The latest time and date for acceptance and payment in full in respect of the Initial Open Offer will be 11.00 a.m. on 23 March 2021. If the Initial Issue proceeds, valid applications under the Initial Open Offer will be satisfied in full up to applicants' Open Offer Entitlements. Qualifying Shareholders are also being offered the opportunity to subscribe for New Ordinary Shares in excess of their Open Offer Entitlements under the Excess Application Facility, described below.

Subject to availability, Qualifying Shareholders who take up all of their Open Offer Entitlements may also apply under the Excess Application Facility for additional New Ordinary Shares in excess of their Open Offer Entitlement. ...

The Initial Intermediaries Offer

Members of the general public in the UK may be eligible to apply for New Ordinary Shares through the Intermediaries Offer, by following their relevant application procedures, by no later than 11.00 a.m. on 23 March 2021. The Intermediaries Offer is being made to retail investors in the UK only.

The Initial Offer for Subscription

The Offer for Subscription is being made in the UK only but, subject to applicable law, the Company may allot and issue New Ordinary Shares on a private placement basis to applicants in other jurisdictions. The Offer for Subscription will open on 5 March 2021 and the latest time and date for receipt of completed Offer for Subscription Application Forms under the Offer for Subscription is 11.00 a.m. on 23 March 2021.

Applications under the Offer for Subscription must be made using the Offer for Subscription Application Form and must be for a minimum of 500 New Ordinary Shares, although the Board may accept applications below the minimum amounts stated above in their absolute discretion. Only one application for New Ordinary Shares may be made by a person under the Offer for Subscription and multiple applications from the same person under the Offer for Subscription will not be accepted.

Posted at 17/2/2021 14:23 by tomps2
TRIG FY20 results presentation, given to analysts and investors on 17/02/21 by the management team.

Video: Https://www.piworld.co.uk/2021/02/17/the-renewables-infrastructure-group-trig-fy20-results-presentation/

Podcast: Https://piworld.podbean.com/e/the-renewables-infrastructure-group-trig-fy20-results-presentation/

Posted at 11/12/2020 10:34 by andyadvfn1
https://www.trustintelligence.co.uk/investor/articles/fund-research-investor-trig-renewables-infrastructure-group-retail-dec-2020#summaryInteresting read, however I was hoping to see something about The possible effects of brexit on WTO terms. Any views out there?
Posted at 22/11/2020 12:06 by petewy
good mention in IC:
For investors looking to access this space, Ryan Hughes, head of active portfolios at AJ Bell recommends looking at the largest and most established in the sector, The Renewables Infrastructure Group (TRIG). “It has a strong pedigree, was launched over seven years ago and has a market cap of well over £2bn, which should encourage investors that they are not simply following the latest fashionable investment idea,”
and more...

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P: V: D:20221201 05:44:42