Published On: Mon, Mar 11th, 2019

TRIG to acquire 213MW Jadraas wind farm in Sweden

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Wind industry news : British investment trust The Renewables Infrastructure Group (TRIG) has signed a deal worth €207 million to acquire the operational 212.85MW Jadraas wind farm from Arise and Sydvastanvind, two Swedish firms controlled by Platina Energy Partners.

The Jadraas wind farm built near Ockelbo, north of Stockholm, is equipped with 66 V-112 turbines from Vestas, with 3.225MW capacity each. The Swedish wind farm has been generating power since May 2013.

Vestas has a long term operations and maintenance contract with the Jadraas wind farm, which post acquisition will represent nearly 11% of the portfolio of TRIG on a committed investment basis.

TRIG to acquire 213MW Jadraas wind farm in Sweden from Arise and Sydvastanvind

TRIG to acquire 213MW Jadraas wind farm in Sweden from Arise and Sydvastanvind.

Daniel Johansson – CEO of Arise said: “Jädraås was our first large-scale project and it marked the beginning of our journey to become the company we are today. Even though it has not been the success we hoped for financially, we bring with us all the knowledge and experiences gained into our future business.

“We are now very well positioned with a strong team, a strong development pipeline and a strong balance sheet.”

Based in London, TRIG is advised by InfraRed Capital Partners as Investment Manager while Renewable Energy Systems (RES) is its Operations Manager.

After completion of the acquisition, which is expected to be done this quarter, TRIG’s portfolio capacity is expected to move up to 1.32GW.

Richard Crawford – InfraRed Capital Partners infrastructure director Richard Crawford said: “Jadraas is our second investment in Sweden and represents an expansion of our presence in the Nordic market.

“With power price hedging in place for most of the expected generation for the next 5 years and attractive unlevered returns, this acquisition complements our existing portfolio very well, whilst increasing our exposure to one of Europe’s most attractive regions for renewable energy development.”

For more wind industry news and energy acquisition news, keep following Business-News-Today.com.

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