Renewables Infrastructure Group acquires Grönhult onshore wind farm

Wind Farm
[shareaholic app="share_buttons" id_name="post_below_content"]

Renewables Infrastructure Group Ltd (LON:TRIG), a London-listed investment company advised by InfraRed Capital Partners as Investment Manager and RES as Operations Manager has announced that the Company has acquired Grönhult, a 67.2 MW ready-to-build onshore wind farm located in the southwest of Sweden. Grönhult is being acquired from Vattenfall, the leading Swedish utility and a major developer of renewables, who will also manage the construction process. The Project will consist of 12 Vestas 5.6MW turbines with construction starting in Q2 2021. The Project is expected to become operational at the end of Q4 2022. 

On completion, the Project is expected to represent approximately 3% of TRIG’s portfolio value on a fully committed basis and investments in Sweden will account for 10% of TRIG’s portfolio. This acquisition takes the Company’s exposure to construction projects to approximately 6% of the portfolio value.

Grönhult will receive market based revenues once operational and the Investment Manager will consider a range of power price hedging strategies. The Project is expected to benefit from increasing electricity demand through greater electrification of transport and the expansion of other energy intensive industries such as data centres in and around Stockholm and Gothenburg. Construction will be funded through equity investment rather than with  project debt.

Richard Crawford, Director, Infrastructure at InfraRed Capital Partners, said:

“We are pleased to expand our presence in Sweden with high quality partners. The Nordic region represents a key market for the Company with a strong pipeline and favourable economics for onshore wind.”

Renewables Infrastructure Group 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.

Twitter
LinkedIn
Facebook
Email
Reddit
Telegram
WhatsApp
Pocket
Find more news, interviews, share price & company profile here for:
    Renewables Infrastructure Group (LON:TRIG) has released its Annual Results for 2023, highlighting strong performance and capital growth opportunities.
    The Renewables Infrastructure Group (TRIG) has acquired Fig Power, a UK-based developer specializing in battery storage. This acquisition enhances TRIG's technological diversification and adds 400MW of advanced stage battery storage projects to its development pipeline. Fig Power's experienced management team will benefit from TRIG's expertise.

      Search

      Search