The Renewables Infrastructure Group (LSE:TRIG) has completed the £157m sale of its 17.5% stake in the 588MW Beatrice offshore wind farm. Proceeds have cut revolving credit facility borrowings to £184m, and the deal delivers about 40% of TRIG's £400m capital realisation target.

TRIG completes the Beatrice offshore wind farm disposal

The Renewables Infrastructure Group Limited (TRIG), listed on the Main Market of the London Stock Exchange, announced at 07:00 on 29 October 2026 that it has completed the sale of its entire 17.5% stake in the 588MW Beatrice offshore wind farm, off Scotland's north-east coast.

Total consideration was £157m. The release says completion followed "receipt of the relevant third-party consents." TRIG has used the proceeds to reduce drawings under its revolving credit facility (RCF) to £184m.

Background to the sale

The disposal was first announced on 15 June 2026. At that time, TRIG said the buyer was funds managed by Equitix Investment Management, an existing co-shareholder exercising its pre-emption right under the project's shareholders' agreement. The June release put the consideration at about £155m, around 4% below the stake's valuation at 31 December 2025, and said RCF drawings were about £240m at 31 March 2026.

By our calculation, the RCF balance has fallen by about £56m from that March level, although other cash flows over the period may also have contributed.

Effect on borrowings and capital realisation

According to today's announcement, the sale represents c.40% of TRIG's 12-month £400m capital realisation target, set at its Capital Markets Seminar in May 2026.

The disposal also removes c.£210m of project-level borrowings attributable to TRIG's share of Beatrice. Aggregate group borrowings have fallen by c.£365m to c.£1.7bn, equal to 43% of enterprise value. TRIG (LSE:TRIG) defines enterprise value as net asset value plus RCF drawings, private placement debt and project-level debt.

Capital allocation and why it matters

TRIG said realised capital will be used to reduce RCF borrowings, return capital to shareholders, and invest in higher-returning proprietary opportunities within its existing portfolio where they exceed the hurdle rate set by share buybacks. The announcement does not launch a new buyback or change the dividend.

For investors following UK shares in listed renewable infrastructure, lower borrowings reduce floating-rate debt exposure, and the release links reinvestment decisions directly to the return available from buying back shares.

Risks for investors

The June release priced the stake below its year-end valuation, and disposals at a discount can affect net asset value. Beatrice also leaves the portfolio, along with its future cash flows. The announcement says further divestment processes are underway but gives no detail, so the timing and pricing of the remaining c.60% of the £400m target are uncertain. Power prices, interest rates and sentiment towards investment companies on the UK stock market remain wider factors. Share price moves on 29 October 2026 were not checked for this article.

What investors may watch next

Investors may look for news on further disposals, how much of the proceeds is allocated to capital returns versus reinvestment, and the RCF balance in later updates. Any update on net asset value and gearing would show how the Beatrice sale and future divestments change the shape of TRIG's portfolio.

TRIG's Beatrice completion in context

Completion turns a June agreement into cash and lower debt. It moves TRIG about 40% of the way to its £400m realisation target and reduces aggregate group borrowings to c.£1.7bn, while the rest of the programme is still in progress and its outcome is not yet disclosed.