5th Jan 2016 08:15
LONDON (Alliance News) - The Renewables Infrastructure Group Ltd on Tuesday said it has agreed to invest EUR57.0 million in a portfolio of ground-mounted and rooftop solar photovoltaic assets in France.
It will invest in the assets alongside Akuo Energy, a French renewable energy group.
The assets will increase the company's net generating capacity in its portfolio to 680 mega watts, up 22 mega watts.
"TRIG's new partnership with Akuo Energy expands its French power production and further diversifies the company's portfolio. The transaction adds attractive, highly predictable revenue streams to TRIG through the French feed-in tariff mechanism at a time when the volume of solar opportunities in the UK is expected to decline with the reductions in government support programmes," said Richard Crawford, infrastructure director at InfraRed Capital Partners, the investment manager for Renewables Infrastructure Group.
Shares in Renewables Infrastructure were down 0.8% to 101.70 pence early Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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