TRIG acquires onshore windfarms in France

1 July 2019 (Last Updated July 30th, 2020 21:06)

UK-based The Renewables Infrastructure Group (TRIG) has acquired stakes in French onshore windfarms, with a total capacity of 123.8MW.

TRIG acquires onshore windfarms in France
TRIG acquires two French windfarms. Credit: Brady Bellini on Unsplash.

UK-based The Renewables Infrastructure Group (TRIG) has acquired stakes in French onshore windfarms, with a total capacity of 123.8MW.

Financial details of both acquisitions have not been disclosed by the company.

The acquisitions increase its French wind portfolio proportion from 10% to 13% and bring TRIG’s net generating capacity to 1,509MW.

TRIG has purchased a 34.6% equity interest along with the entire shareholder loans in Fujin. The holding company owns five operational windfarms in France totalling 87.8MW.

French developer Akuo Energy remains the majority shareholder in Fujin and will continue to operate the windfarms.

Additionally, the five projects operate under inflation-linked feed-in-tariffs with French utility firm EDF.

TRIG has also acquired a 100% stake in 36MW Epine windfarm from investment company TTR Energy and German-based holding company Nordex. The windfarm is located near Reims in Northern France.

Equipped with 12 Nordex wind turbines, Epine windfarm recently commenced its operations. The Epine windfarm benefits from a 15-year inflation-linked feed-in-tariff with EDF.

TRIG notes that it acquired the Fujin portfolio with project finance in place, while it is in the process of raising project finance for Epine.

Both these investments have been financed from the TRIG’s cash resources.

Earlier this month, TRIG agreed to buy a 25% indirect equity interest in the 330MW Gode Wind 1 offshore windfarm in Germany.

Located in the German North Sea, Gode Wind 1 offshore windfarm started its operations in February 2017 and was developed and constructed by Ørsted.