TRIG to take risk in 100-MW Akuo-developed French renewables portfolio

Dec 23, 2020 08:08 PM ET
  • The Renewables Infrastructure Group Ltd (LON: TRIG) is readied to purchase a firm that has around 100 MW of onshore wind, solar and battery storage space assets in France as well as territorial islands.
TRIG to take risk in 100-MW Akuo-developed French renewables portfolio
Image: Mny-Jhee/Shutterstock.com

The UK fund has actually traded contracts to invest in Phoenix SAS, it said in a bourse declaring on Tuesday. The target entity possesses a renewables portfolio that includes 5 onshore wind farms in north France totalling 74 MW and also four solar photovoltaic (PV) parks with battery storage space situated on the islands of Corsica as well as La Reunion. The solar-plus-battery possessions have actually an integrated ability of 29 MW.

TRIG's investment will be made in the form of mezzanine level bonds that will be fully paid back within 12 years. The settlement will take place within the continuing to be aid life of the portfolio. "The financial investment has an appealing return with very little level of sensitivity to modifications in wholesale power rates," the UK fund claimed, adding that the bonds offer it with legal rights similar to those of a minority equity financier.

All properties were created by France's Akuo Energy as well as gain from the French government's feed-in tariff (FiT) aid.

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