Renewables Infrastructure Grp (The) Acquisition of Blary Hill, UK (3790A)
21 Enero 2020 - 01:00AM
UK Regulatory
TIDMTRIG
RNS Number : 3790A
Renewables Infrastructure Grp (The)
21 January 2020
21 January 2020
The Renewables Infrastructure Group Limited
("TRIG" or "the Company", a London-listed investment company
advised by InfraRed Capital Partners ("InfraRed") as Investment
Manager and RES ("Renewable Energy Systems") as Operations
Manager)
Acquisition of Blary Hill, UK
The Board of TRIG is pleased to announce that the Company has
exchanged contracts to acquire a 100% interest in Blary Hill Energy
Limited ("Blary Hill" or "the Project"), with the rights to
construct a 35MW wind farm located on the Kintyre Peninsula, West
Scotland. The investment is expected to complete during Q1 2020.
The project, developed by RES, will consist of 14 Nordex N90
turbines. RES will construct the project, under a fixed price EPC
Contract. Construction is expected to start this quarter and the
Project is expected to commence operations in Q1 2022. RES will
provide asset management services. The Project will create more
than GBP3.9 million of inward investment for the local economy
during the wind farm's construction and first year of
operation.
The Project's revenues will be from selling power into the
wholesale market without subsidy and as a result is being funded
without any third-party project level debt.
Once constructed, the Project would represent approximately 2.5%
of TRIG's portfolio value on a committed investment basis.
Following this acquisition, the percentage of TRIG's assets which
are in construction would be approximately 8%.
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Richard Crawford
Phil George
Maitland/AMO +44 (0) 20 7379 5151
James Isola
Zara de Belder
Notes
The Company
The Renewables Infrastructure Group ("TRIG" or the "Company") is
a leading London-listed renewable energy infrastructure investment
company. The Company seeks to provide shareholders with an
attractive long-term, income-based return with a positive
correlation to inflation by focusing on strong cash generation
across a diversified portfolio of predominantly operating projects.
TRIG is targeting an aggregate dividend of 6.64 pence per Ordinary
Share for the year to 31 December 2019.
TRIG is invested in a portfolio of over 70 wind, solar and
battery storage projects with aggregate net generating capacity of
1,664MW. TRIG is seeking further suitable investment opportunities
which fit its stated Investment Policy.
Further details can be found on TRIG's website at
www.trig-ltd.com.
Investment Manager
TRIG's Investment Manager is InfraRed Capital Partners Limited
("InfraRed") which has successfully invested in over 200
infrastructure projects since 1997. InfraRed is a leading
international investment manager focused on infrastructure and real
estate. It operates worldwide from offices in London, Hong Kong,
New York, Seoul, Sydney and Mexico City. With over 190
professionals it manages in excess of USD 12 billion of equity
capital in multiple private and listed funds, primarily for
institutional investors across the globe. InfraRed is authorised
and regulated by the Financial Conduct Authority.
The infrastructure investment team at InfraRed consists of over
85 investment professionals, all with an infrastructure investment
background and a broad range of relevant skills, including private
equity, structured finance, construction, renewable energy and
facilities management.
InfraRed implements best-in-class practices to underpin asset
management and investment decisions, promotes ethical behaviour and
has established community engagement initiatives to support good
causes in the wider community. InfraRed is a signatory of the
Principles of Responsible Investment.
Further details can be found on InfraRed's website at
www.ircp.com.
Operations Manager
TRIG's Operations Manager is RES ("Renewable Energy Systems"),
the world's largest independent renewable energy company.
RES has been at the forefront of wind energy development for
over 38 years, with the expertise to develop, engineer, construct,
finance and operate projects around the globe. RES has developed or
constructed onshore and offshore wind, solar, energy storage and
transmission projects totalling more than 17GW in capacity. RES
supports over 5.5GW of operational assets worldwide for a large
client base. Headquartered in Hertfordshire, UK, RES is active in
10 countries and has over 2,000 employees engaged in renewables
globally.
RES is an expert at optimising energy yields, with a strong
focus on safety and sustainability. Further details can be found on
the website at www.res-group.com.
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END
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