Renewables Infrastructure Group buys Burgundy wind farm for €30 million – Renewables Infrastructure Group (TRIG) has announced the acquisition of 100% of the Tille et Venelle (T&V) wind farm in Burgundy, central France. T&V will be a 40MW onshore wind farm once construction is complete. T&V was developed by Paris-based Velocita Energies and they are currently managing its construction.
The project was acquired from Envision Energy, a leading turbine manufacturer and developer head-quartered in China. The total consideration paid by TRIG is around.€30 million, including construction costs and net of project level debt financing.
The project is due to become operational during Q1 2020 and will comprise 16 Envision EN-131 turbines with a capacity of 2.5MW each.
Project includes 15-year inflation protection
The project benefits from a 15-year subsidy in the form of an inflation linked contract for difference with the utility company EDF which fixes the price to be paid for the power. As a result, the project has no power price risk for the duration of the subsidy term. Following this investment, TRIG’s construction exposure now stands at 7% of its portfolio value.
We note that TRIG is coming off a strong 2018, where it provided a NAV total return of 11.6% with portfolio generation close to budget. Click here to read more about this story.
About TRIG
TRIG is invested in a portfolio of 64 wind, solar and battery storage projects in the UK, France, the Republic of Ireland and Sweden including the acquisition announced today, with aggregate net generating capacity of 1,363MW. TRIG is seeking further suitable investment opportunities which fit its stated Investment Policy.
TRIG: Renewables Infrastructure Group buys Burgundy wind farm for €30 million