Announcement by TRIG's co-investor

RNS Number : 7762P

Renewables Infrastructure Grp (The)

12 February 2019

 

12 February 2019

The Renewables Infrastructure Group Limited

("TRIG" or the "Company")

Announcement by TRIG's co-investor in the Fred. Olsen UK wind portfolio

The Board of TRIG notes the announcement made by Bonheur ASA today in respect of its 2018 results.  Bonheur ASA owns 100% of Fred. Olsen Renewables AS, TRIG's co-investor in six of TRIG's UK wind portfolio projects namely Crystal Rig I & II, Rothes I & II, Mid Hill and Paul's Hill all located in Scotland (together, the "FO/TRIG UK Wind Portfolio"). TRIG has a 49% equity investment in the FO/TRIG UK Wind Portfolio and a mezzanine note. The six assets represent approximately 20% of TRIG's portfolio by value.

The announcement includes reference to historic production performance of Fred. Olsen's portfolio of nine UK operating wind assets that Fred. Olsen own in a co-investment capacity ("the FO JV assets"). Six out of the nine assets constitute the FO/TRIG UK Wind Portfolio. Bonheur ASA reported that in 2018, generation for the FO JV assets had increased. This increase in generation can be attributed to increased capacity in the FO JV portfolio from 433MW at the end of 2017 to 508MW at the end of 2018. The FO/TRIG UK Wind Portfolio has the same capacity in 2018 as it did in 2017, amounting to 433MW.

As usual, performance for TRIG's portfolio for 2018, across all geographic regions, will be reported in the Company's annual results which will be announced on 19 February 2019.

Enquiries

InfraRed Capital Partners Limited                           [phone]

Richard Crawford

Phil George

Tulchan Communications                                         [phone]

Martin Pengelley

Toby Bates

 

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