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The Renewables Infrastructure Group expands presence in Sweden with onshore wind farm acquisition
StockMarketWire.com
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Wind farm investor The Renewables Infrastructure Group (TRIG) has acquired Gronhult, a 67.2 MW ready-to-build onshore wind farm located in the southwest of Sweden, taking its exposure to construction projects to approximately 6% of the portfolio value.
The onshore wind farm is being purchased from Vattenfall, a Swedish utility firm and developer of renewables, which will manage the construction process, starting in the second quarter of 2021.
The project is expected to become operational in the fourth quarter of 2022 and will consist of 12 Vestas 5.6MW turbines.
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.'
On completion, the project will 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.
Story provided by StockMarketWire.com
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