The Renewables Infrastructure Group completed the sale of its 17.5% stake in the Beatrice offshore wind farm off northern Scotland to funds managed by Equitix for £157m, the investment company said on 29 October 2026.
Why Funds managed by Equitix Investment Management is buying 17.5% stake in the Beatrice offshore wind farm (from The Renewables Infrastructure Group)
TRIG said in June that the disposal was meaningful progress towards the £400m capital realisation target over 12 months that it set in May 2026, and that Equitix's pre-emption showed the attraction of its assets to private market investors.
Deal terms and financing
Equitix funds, already shareholders in the project, exercised pre-emption rights under the shareholders' agreement. The June binding offer of about £155m was at a 4% discount to TRIG's valuation of the stake at 31 December 2025; total consideration at completion was £157m.
Regulatory approvals and timing
Completion followed receipt of the relevant third-party consents.
Market context
Proceeds reduced TRIG's revolving credit facility drawings to £184m, and the sale removes about £210m of project-level debt attributable to its share, cutting aggregate group borrowings by about £365m to about £1.7bn, or 43% of enterprise value. Beatrice has 84 Siemens Gamesa turbines about 13km off the Caithness coast.
