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The Renewables Infrastructure Group Acquires French Onshore Wind Project
Thursday 22 October 2020

UK-based renewable energy infrastructure investment company The Renewables Infrastructure Group Ltd. (LSE: TRIG) has acquired a 100% interest in Haut Vannier SAS, the company said.

Haut Vannier has the rights to construct a 43mw wind farm located in Haute-Marne, approximately 65km northeast of the city of Dijon in France.

The project has been developed by Envision and Velocita, who will continue to carry out the construction, and will consist of 17 Envision 2.5mw E-131 turbines.

Construction is underway and the Project is expected to commence operations in 1Q22.

RES will provide asset owner engineer services during the construction period.

The project will benefit from an attractive 20-year subsidy in the form of an inflation linked Contract-for-Difference with the utility company EDF, which fixes the price to be received for the power.

As a result, the project has no power price risk for the duration of the subsidy term.

This acquisition represents the continuation of the company's strategy to complement its portfolio with different revenue characteristics to generate sustainable returns for shareholders, within TRIG's identified key markets.

Once constructed, the project would represent approximately 1% of TRIG's portfolio value on a committed investment basis.

Following this acquisition, the percentage of TRIG's assets which are in construction will be approximately 10%.

The Renewables Infrastructure Group is a leading London-listed renewable energy infrastructure investment company.

The company seeks to provide shareholders with an attractive long-term, income-based return with a positive correlation to inflation by focusing on strong cash generation across a diversified portfolio of predominantly operating projects.

TRIG is targeting an aggregate dividend of 6.76 pence per ordinary share for the year to 31 December 2020.

TRIG is invested in a portfolio of over 70 wind, solar and battery storage projects with aggregate net generating capacity of over 1.5gw.

TRIG is seeking further suitable investment opportunities which fit its said Investment Policy.

TRIG's Investment Manager is InfraRed Capital Partners Ltd which has successfully invested in over 200 infrastructure projects since 1997. InfraRed is an international investment manager focused on infrastructure and real estate.

It operates worldwide from offices in London, Hong Kong, New York, Seoul, Sydney and Mexico City.
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Date Published: 22/10/2020

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