UK green energy IPOs reach $1bn mark as Trig gets £300m
The Renewables Infrastructure Group completed an oversubscribed £300m London IPO on Wednesday, taking advantage of investor interest in renewable energy to become the UK’s largest green investment firm. The sector has grown to $1bn market capitalisation in a matter of months.
Renewable Energy Systems, the green power developer which will manage Trig’s assets, committed at launch to buy up to 20% of the deal, depending on demand. It was scaled back in full, to its minimum order of 5%.
Trig has first claim to any assets developed by RES.
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