Renewables Infrastructure Grp (The) Acquisition of French Onshore Wind Project (6358C)
20 Octubre 2020 - 03:55AM
UK Regulatory
TIDMTRIG
RNS Number : 6358C
Renewables Infrastructure Grp (The)
20 October 2020
20 October 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 French onshore wind construction project
The Board of TRIG is pleased to announce that the Company has
acquired a 100% interest in Haut Vannier SAS ("Haut Vannier" or
"the Project"), with the rights to construct a 43MW wind farm
located in Haute-Marne, approximately 65km northeast of the city of
Dijon in France.
The Project has been developed by Envision and Velocita, who
will continue to carry out the construction, and will consist of 17
Envision 2.5MW E-131 turbines. Construction is underway and the
Project is expected to commence operations in Q1 2022. RES will
provide asset owner engineer services during the construction
period.
The Project will benefit from an attractive 20-year subsidy in
the form of an inflation linked Contract-for-Difference with the
utility company EDF, which fixes the price to be received for the
power. As a result, the Project has no power price risk for the
duration of the subsidy term. This acquisition represents the
continuation of the Company's strategy to complement its balanced
portfolio with different revenue characteristics to generate
sustainable returns for shareholders, within TRIG's identified key
markets.
Once constructed, the Project would represent approximately 1%
of TRIG's portfolio value on a committed investment basis.
Following this acquisition, the percentage of TRIG's assets which
are in construction will be approximately 10%.
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 6.76 pence per Ordinary
Share for the year to 31 December 2020.
TRIG is invested in a portfolio of over 70 wind, solar and
battery storage projects with aggregate net generating capacity of
over 1.5GW. 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 6.3GW 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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