TRIG buys 51% stake in French solar plant for €10.6m

The Renewables Infrastructure Group (TRIG) said it was buying a 51% interest in an operating ground-mounted solar photovoltaic plant in Provence, France from investment funds managed by 123Venture for €10.6m.

The plant was commissioned in 2012 and was constructed by Akuo Energy Group, an existing investment partner alongside TRIG in French solar parks. Akuo will continue to hold a 49% stake in the plant.

“The project benefits from a power purchase agreement with EDF expiring in 2032, providing fixed, long-term, index-linked revenue streams to TRIG,” the company said.