Business model and investment policy

Responsible investment Portfolio diversification V alue enhancement Generating sustainable value
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TRIG's Business Model

Our Investment Policy

Our objectives

TRIG is a FTSE-250 listed Investment Company

TRIG is an investment company whose shares are listed on the London Stock Exchange. As at 30 June 2021, TRIG had a market capitalisation in excess of £2.6bn and owned a portfolio of over 75 renewable energy infrastructure projects in the UK, Ireland, France, Germany and Sweden. TRIG’s group structure, including management structure and key service providers, is illustrated below:

The Company is a self-managed Alternative Investment Fund under the European Union’s Alternative Investment Fund Managers Directive. The Company has a board of six independent non-executive directors whose role is to manage the governance of the Company in the interests of shareholders and other stakeholders. In particular, the Board approves and monitors adherence to the Investment Policy, determines risk appetite of the Group, sets Group policies and monitors the performance of the Investment Manager, the Operations Manager and other key service providers. The board meets a minimum of four times per year for regular Board meetings and there are a nuymber of ad hoc meetings dependent upon business requirement. In addition, the Board has four committes covering Audit, Nominations, Remuneration and Management Engagement.

The Board takes advice from the Investment Manager, InfraRed, as well as from the Operations Manager, RES, on matters concerning the market, the portfolio and new investment opportutnies. Day-to-day management of the Group’s portfolio is delegated to the Investment Manager and the Operations Manager, with investment decisions within agreed parameters delegated to an Investment Committee constituted by senior members of the Investment Manager.

Other key service providers to the TRIG Group include Investec Bank plc and Liberum Capital Limited as joint brokers, Maitland AMO as financial public relations advisers, Carey Olsen as legal advisers to Guernsey law, Norton Rose Fulbright LLP as legal advisers as to English law, Link Market Services (Guernsey) Limited as registrars, Deloitte LLP as auditors, and ING Group, Royal Bank of Scotland plc, Sumitomo Mitsui Banking Corporation, Santander, Barclays, and National Australia Bank Limited as lenders to the Group via the revolving acquisition facility.

The Board reviews the performance of all key service providers on an annual basis.