The Renewables Infrastructure Group (TRIG) has completed the divestment of its 17.5% stake in the 588 MW Beatrice offshore wind farm off east Scotland for USD 209 million.

The transaction was first announced in June, after a pre-emption right to acquire the investment had been exercised by funds managed by Equitix Investment Management Ltd, an existing co-shareholder in the project.

Proceeds Deployed to Cut Debt

The sales proceeds have been used by TRIG to reduce borrowings under its revolving credit facility to USD 245.2 million, according to filings. TRIG added that the deal also removes around USD 279.9 million of project-level borrowings attributable to the company's percentage shareholding of Beatrice, meaning the transaction reduces both corporate and project-level debt linked to the stake.

Progress Toward Capital Realization Target

The completed transaction marks 40% of the company's 12-month 533.1 million capital realisation target, which was set out at TRIG's Capital Markets Seminar in May 2026.

Background to the Sale

TRIG had agreed to sell the Beatrice stake, with the deal announced on June 15, 2026, and the divestment agreement signed in July. The completion of the sale follows that process, with Equitix Investment Management Ltd, already a shareholder in the wind farm, taking full ownership of TRIG's 17.5% interest in the 588 MW project.

Beatrice, located off the east coast of Scotland, was the asset in which TRIG held the stake through to the completion of the transaction.

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