The Renewables Infrastructure Group (TRIG) has acquired the over 67MW Gronhult wind farm in Sweden from Vattenfall for an undisclosed price.
The 67.2MW ready-to-build project is located in the southwest of the country and will consist of 12 Vestas 5.6MW turbines.
Vattenfall will continue to manage the construction process, which will start in the first quarter of this year.
Gronhult is expected to become operational at the end of 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 the portfolio.
This acquisition takes the company s exposure to construction projects to approximately 6% of the portfolio value, TRIG said.
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External Company Press Release
The Board of TRIG is pleased to announce that the Company has exchanged contracts to acquire an equity interest of 17.5% in Beatrice offshore wind farm (the Project) from Copenhagen Infrastructure Partners (CIP). Beatrice is a 588MW offshore wind farm developed by SSE plc using Siemens turbines, has an established track record since operations commenced in 2018 and benefits from a Contract-for-Difference ( CfD ) subsidy. Following completion of the transaction, Beatrice will represent approximately 12% of TRIG s investment portfolio.
The wind farm is located approximately 13km off the north east coast of Scotland and comprises 84 Siemens 7MW turbines which utilise direct drive technology. The Project has a 15-year maintenance agreement in place with Siemens. The Project s CfD subsidy fixes the price received for all power generated until 2034, with indexation to inflation. Debt financing on the Project is fixed rate and fully amortising within the
The Beatrice offshore wind farm Picture: SSE By Ian McConnell A 17.5 per cent stake in the Beatrice offshore wind farm, developed by Perth-based energy giant SSE, is being bought by The Renewables Infrastructure Group, which highlighted the part such projects could play in the UK’s decarbonisation drive. The equity interest in Beatrice, around 13 kilometres off Scotland’s north-east coast, is being acquired from Copenhagen Infrastructure Partners (CIP). The Renewables Infrastructure Group (TRIG) said the 588-megawatt project had “an established track record since operations commenced in 2018 and benefits from a contract-for-difference subsidy”. It noted that, after the transaction was completed, Beatrice would represent about 12% of its investment portfolio.