TRIG makes two onshore wind investments in France

It said it has acquired a 34.6% equity interest and all of the shareholder loans in Fujin SAS - a holding company that owns a portfolio of five operational wind farms in France with a gross generation capacity of 87.8MW.

The FTSE 250 company said Fujin was owned alongside French developer Akuo Energy, which remained majority shareholder and would continue to operate the wind farms.

TRIG said the projects benefited from inflation-linked feed-in-tariffs with French energy company EDF for an average remaining subsidy term of 6.5 years.

During that period, the projects were not exposed to any power price risk.

The company said it also acquired a 100% interest in the Epine wind farm - a 36MW operational wind farm in northern France, near Reims - from TTR Energy and Nordex SE.

It said the wind farm recently started operations, and benefited from a 15-year inflation-linked feed-in-tariff with EDF, which eliminated power price risk for the duration of the subsidy term.

TRIG said Epine comprised of 12 Nordex turbines.

“The Fujin portfolio was acquired with project finance in place which is fully amortising during the subsidy period whilst Epine is in the process of raising project finance which will amortise on the same basis,” the TRIG board said in its statement.

“These investments have both been financed from the company's cash resources following its recent fund raise.”