Renewables Infrastructure Group to buy six wind farms in UK

London based clean energy fund, The Renewables Infrastructure Group (TRIG) will invest £246m in a portfolio of six wind farms owned by Fred Olsen Renewables, a wholly owned subsidiary of Bonheur and Ganger Rolf.

The portfolio includes six operating onshore wind farm projects in Scotland with combined power generating capacity of 433MW.

TRIG has reportedly completed negotiations with Fred Olsen and is expected to acquire 49% equity interest in the project and it will include 100% of a mezzanine-level loan to back the deal.

The loan will be funded from existing cash resources, along with the drawdown of its expanding acquisition with the National Australia Bank and the Royal Bank of Scotland.

The Renewables Infrastructure is also to launch an equity issue to repay a portion of the facility, the company said.

Investment manager for Renewables Infrastructure InfraRed Capital Partners infrastructure director Richard Crawford said: "We are delighted to announce this major investment by TRIG and to be partnering with Fred.

"Olsen Renewables, a leading developer of UK and Nordic wind energy projects, who has developed these six high quality operational wind farms."