21 January 2020
The Renewables Infrastructure Group Limited
("TRIG" or "the Company", a London-listed investment company advised by InfraRed Capital Partners ("InfraRed") as Investment Manager and RES ("Renewable Energy Systems") as Operations Manager)
Acquisition of Blary Hill, UK
The Board of TRIG is pleased to announce that the Company has exchanged contracts to acquire a 100% interest in Blary Hill Energy Limited ("Blary Hill" or "the Project"), with the rights to construct a 35MW wind farm located on the Kintyre Peninsula, West Scotland. The investment is expected to complete during Q1 2020. The project, developed by RES, will consist of 14 Nordex N90 turbines. RES will construct the project, under a fixed price EPC Contract. Construction is expected to start this quarter and the Project is expected to commence operations in Q1 2022. RES will provide asset management services. The Project will create more than £3.9 million of inward investment for the local economy during the wind farm's construction and first year of operation.
The Project's revenues will be from selling power into the wholesale market without subsidy and as a result is being funded without any third-party project level debt.
Once constructed, the Project would represent approximately 2.5% of TRIG's portfolio value on a committed investment basis. Following this acquisition, the percentage of TRIG's assets which are in construction would be approximately 8%.
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Richard Crawford
Phil George
Maitland/AMO +44 (0) 20 7379 5151
James Isola
Zara de Belder
Notes
The Company
The Renewables Infrastructure Group ("TRIG" or the "Company") 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. TRIG is targeting an aggregate dividend of 6.64 pence per Ordinary Share for the year to 31 December 2019.
TRIG is invested in a portfolio of over 70 wind, solar and battery storage projects with aggregate net generating capacity of 1,664MW. TRIG is seeking further suitable investment opportunities which fit its stated Investment Policy.
Further details can be found on TRIG's website at www.trig-ltd.com.
Investment Manager
TRIG's Investment Manager is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in over 200 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul, Sydney and Mexico City. With over 190 professionals it manages in excess of USD 12 billion of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.
The infrastructure investment team at InfraRed consists of over 85 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.
InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.
Further details can be found on InfraRed's website at www.ircp.com.
Operations Manager
TRIG's Operations Manager is RES ("Renewable Energy Systems"), the world's largest independent renewable energy company.
RES has been at the forefront of wind energy development for over 38 years, with the expertise to develop, engineer, construct, finance and operate projects around the globe. RES has developed or constructed onshore and offshore wind, solar, energy storage and transmission projects totalling more than 17GW in capacity. RES supports over 5.5GW of operational assets worldwide for a large client base. Headquartered in Hertfordshire, UK, RES is active in 10 countries and has over 2,000 employees engaged in renewables globally.
RES is an expert at optimising energy yields, with a strong focus on safety and sustainability. Further details can be found on the website at www.res-group.com.
