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Investing.com -- The Renewables Infrastructure Group Limited (LON:TRIG) announced Monday that HICL Infrastructure PLC has withdrawn from their proposed combination, which was initially announced on November 17.
Richard Morse, Chair of TRIG, expressed regret that investors would not have the opportunity to vote on creating what would have been the largest listed UK infrastructure investment company.
"Our focus now returns to delivering TRIG’s attractive standalone strategy. TRIG is a well-established platform with high quality assets, a competitive pipeline of opportunities, and deep renewables and energy storage expertise," Morse stated.
The company emphasized that the withdrawal does not diminish TRIG’s standalone strategy, which was outlined at its Capital Markets Seminar on May 29. This strategy aims to deliver growth and value through development, diversification, and operational enhancement.
TRIG currently manages a portfolio of wind, solar, and battery storage projects across six European markets with a net operational capacity of 2.3GW. This renewable power capacity is sufficient for 1.8 million homes and helps avoid 2.0 million tonnes of carbon emissions annually.
The company noted it will continue engaging with shareholders ahead of its 2026 Annual General Meeting as it oversees future strategy and capital allocation policy.
TRIG is advised by InfraRed Capital Partners as Investment Manager and Renewable Energy Systems as Operations Manager. BNP Paribas is acting as financial adviser and corporate broker exclusively for TRIG, while Investec Bank plc continues as corporate broker.
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