The percentage of TRIG's assets under construction will also grow to about 10%, with the acquisition
The Renewables Infrastructure Group (TRIG), a UK-based investment company, has announced the acquisition of Haut Vannier, a 43MW wind farm in France, for an undisclosed amount.
Located in Haute-Marne, about 65km northeast of the city of Dijon in France, the wind farm is being developed by Velocita Energy and Envision.
Presently, the wind farm’s construction is underway. The project will be powered by 17 of Envision’s 2.5MW E-131 wind turbines and is expected to begin operations in the first quarter of 2022.
Renewable Energy Systems (RES) will provide asset owner engineer services during the project’s construction period.
When completed, the project will represent about 1% of TRIG’s portfolio value on a committed investment basis. The percentage of TRIG’s assets under construction will also grow to about 10%, with the acquisition.
The wind farm is supported by 20-year subsidy from French utility EDF
The wind farm is being supported by a 20-year subsidy in the form of an inflation linked Contract-for-Difference with French utility EDF.
As a result, the wind farm is claimed to have no power price risk during the subsidy term’s duration.
In May this year, TRIG closed an acquisition of 36% stake in Merkur, the 396MW offshore wind farm in the German North Sea. The stake follows the contract signed to acquire the stake last December and the receipt of German foreign investment approvals and EU merger clearances.
The Merkur offshore wind farm began operations last June and the project benefits from a Feed-in-Tariff for the next 13 years (until June 2033), followed by a floor price for a further six years.