January 21 (Renewables Now) - The Renewables Infrastructure Group Ltd (LON:TRIG) has agreed to acquire the company that owns the rights for the construction of a 35-MW wind farm in West Scotland.
The UK-based investment company, also known as TRIG, has exchanged contracts to buy Blary Hill Energy Ltd, with the rights to build the wind project, it said in a bourse filing on Tuesday. The proposed project was developed by Renewable Energy Systems, TRIG’s operations manager.
The investment, the value of which was kept under the wraps, is planned to be completed in the current quarter, TRIG said.
The wind park will be installed on the Kintyre Peninsula under an engineering, procurement and construction (EPC) deal with RES, which will also be its asset manager. Its construction will begin this quarter, with commissioning of the 14 Nordex N90 turbines scheduled for the first quarter of 2022.
The power plant will be built without subsidies and third-party project-level debt and will sell its output into the wholesale market. Once up and running, it will account for 2.5% of TRIG's portfolio value on a committed investment basis.