Renewables Infrastructure buys Renfrewshire wind farm for £23m

The Renewables Infrastructure Group (TRIG) announced on Tuesday that it has completed the acquisition of a 100% interest in a UK operational wind farm, the Neilston Community Wind Farm.

The FTSE 250 company said the project was a 10MW onshore wind project in East Renfrewshire, Scotland.

It said the project was acquired by TRIG from the private developer Carbon Free and Neilston Development Trust for a total consideration of £22.6m, without any third-party project debt.

“The project has been accredited under the UK's 20‐year 1.0 ROC per MWh support scheme and has been operating for four years,” TRIG’s board explained in a statement.

“The project comprises four Nordex N90 wind turbine generators, each with a rated capacity of 2.5MW, and benefits from a power purchase agreement with Statkraft.”

TRIG's investment in the project was financed from the proceeds of the recent equity raising under the company's share issuance programme.

The investment increased TRIG's portfolio to 54 projects, with aggregate net generating capacity of 720MW.