28th Jun 2019 09:18
(Alliance News) - Renewables Infrastructure Group Ltd on Friday said it has bought two French onshore wind farms, bringing the company's net generating capacity to 1.509 megawatt.
The investment company has bought 34.6% stake and all loans in Fujin SAS, a holding company that owns a portfolio of five operational windfarms in France with a gross generation capacity of 87.8 megawatt.
The company also has bought 100% interest in the Epine windfarm, a 36 megawatt operational wind farm located in northern France from TTR Energy and Nordex SE.
The Fujin portfolio was acquired with project finance in place which is fully amortising during the subsidy period whilst Epine windfarm is in the process of raising project finance which will amortise on the same basis.
The acquisition have been financed from company's internal cash resources.
Shares Renewables Infrastructure Group were marginally higher at 127.82 pence each on Friday morning.
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