Acquisition of Neilston Community Wind Farm

RNS Number : 5122E

Renewables Infrastructure Grp (The)

09 May 2017

 

9 May 2017

The Renewables Infrastructure Group Limited

("TRIG" or the "Company", a London-listed investment company advised by InfraRed Capital Partners as Investment Manager and Renewable Energy Systems as Operations Manager)

Acquisition of Neilston Community Wind Farm

The Board of TRIG is pleased to announce that the Company has completed the acquisition of a 100% interest in a UK operational wind farm, Neilston Community Wind Farm (the "Project"), a 10MW onshore wind project in East Renfrewshire, Scotland.

The Project has been acquired by TRIG from the private developer Carbon Free and Neilston Development Trust for a total consideration of £22.6 million without any third-party project debt. The Project has been accredited under the UK's 20‐year 1.0 ROC per MWh support scheme and has been operating for four years. The Project comprises four Nordex N90 wind turbine generators, each with a rated capacity of 2.5MW, and benefits from a power purchase agreement with Statkraft.

TRIG's investment in the Project has been financed from the proceeds of the recent equity raising under TRIG's share issuance programme. The investment increases TRIG's portfolio to 54 projects with aggregate net generating capacity of 720MW.

Enquiries

InfraRed Capital Partners Limited                              [phone]
Richard Crawford
Matt Dimond

Tulchan Communications                                           [phone]
Martin Pengelley
Latika Shah

 

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