Centrus advises TRIG on power price hedging for a UK solar portfolio

About TRIG

The Renewables Infrastructure Group (TRIG) was one of the first investment companies investing in renewable energy infrastructure projects listed on the London Stock Exchange.

TRIG completed its IPO in 2013 and is now a member of the FTSE-250 index with a market capitalisation of c.£2.8bn (Aug 2023). 

TRIG’s diversified portfolio includes onshore and offshore wind farms, solar parks, and flexible storage in the UK and Europe.

Transaction Overview

  • Centrus supported TRIG with the structuring, pricing and execution of power price hedging for a UK solar portfolio.
  • Centrus supported TRIG in implementing the hedging strategy that achieved all stakeholder objectives and retained future flexibility through an extremely volatile period during which a number of regulatory changes occurred.
  • Through utilizing a Pay-as-Produced financial hedge structure across a range of tenors, Centrus helped TRIG to  enhance their risk management.

Centrus Solution

  • Support with assessing & determining initial hedging trade level.
  • Initial market soundings for appetite & high-level feedback around structure & timing.
  • Coordination of Non-Disclosure Agreements with counterparties.
  • Feedback and negotiation with banks/providers to ensure competitive tension.
  • Support with final steps to onboarding and counterparty set up.
  • Coordination of power hedging protocol.
  • Independent check of market rates during dry runs and execution call.
  • Investigation of any discrepancies identified during process.
  • Participation and coordination of dry run and live execution exercises.
  • Review of trade confirmations for accuracy post execution.

Centrus advised us throughout each stage of the power price hedging process and we benefitted from their extensive market knowledge and expertise to ensure a successful outcome was reached. 

We look forward to working with Centrus again in the future.

Phil George, CFO – TRIG 

We are delighted to have supported TRIG on this important transaction for their solar portfolio. Centrus were able to assist in engaging a range of counterparties who were able to act throughout the various stages of the energy crisis and provide various products.”

Mark Taheny, Director – Centrus

For more information, please contact Mark Taheny

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