Trig acquires ownership of 49% of Fred. Olsen renewables' UK Wind Farm Portfolio

Fred. Olsen Renewables has completed the sale of a 49% share of its UK operating portfolio to The Renewables Infrastructure Group Limited (TRIG).

The portfolio consists of 6 operational onshore wind projects in Scotland, totaling 433 MW of capacity. It is composed by the following wind farms: Crystal Rig 1, Rothes 1, Paul’s Hill, Crystal Rig 2, Rothes 2 and Mid Hill.

All of the sites were developed by Fred. Olsen Renewables Limited, a 100% subsidiary of Fred. Olsen Renewables AS.

TRIG will finance the Transaction through available cash and credit lines.

The acquisition is in line with TRIG’s investment policy as well as Fred. Olsen’s goals of bringing partners in to enhance further growth.

??CEO, David Brunt commented that:

“The successful conclusion of this transaction and the interest generated amongst potential investors is clear recognition that we have created significant value over the years since Fred. Olsen Renewables started activities 15 years ago. We have a significant development pipeline still to be constructed and the new funds will in part provide funding for that continued growth.”

TRIG is a fund geared towards delivering long-term, stable dividends from a diversified portfolio of onshore wind and solar photovoltaic projects in the UK and Northern Europe. The firm currently owns a portfolio of 30 wholly-owned assets in the UK, France and the Republic of Ireland.