Renewables Infrastructure Grp (The) Announcement by TRIG's co-investor (8609U)
October 27 2017 - 7:00AM
UK Regulatory
TIDMTRIG
RNS Number : 8609U
Renewables Infrastructure Grp (The)
27 October 2017
27 October 2017
The Renewables Infrastructure Group Limited
("TRIG" or the "Company")
Announcement by TRIG's co-investor in the Fred. Olsen UK Wind
Portfolio
The Board of TRIG notes the third quarter 2017 results
announcement today by Bonheur ASA, a member of the Fred. Olsen
group of companies and the Company's co-investor in six of TRIG's
UK wind portfolio projects, namely Crystal Rig I & II, Rothes I
& II, Mid Hill and Paul's Hill (together, the "Fred. Olsen UK
Wind Portfolio").
The announcement includes reference to historic production
performance of the Fred. Olsen UK Wind Portfolio in which TRIG has
a 49% equity investment and a mezzanine note. The Fred. Olsen UK
Wind Portfolio represents approximately one quarter of TRIG's
portfolio by value.
Bonheur ASA reported that the Fred. Olsen UK Wind Portfolio
produced gross generation of 771GWh for the first 9 months of 2017
representing an increase of 13% over the same period in 2016 and
that generation in the third quarter (when wind speeds are usually
at their lowest) was 6% below the equivalent period in 2016.
While some short-term variability in production is to be
expected during the year from intermittent energy sources such as
wind and solar, over the longer term, TRIG's portfolio has
performed at close to predicted levels of production. In the first
nine months of 2017 as a whole, wind levels in Scotland (where the
Fred. Olsen UK Wind Portfolio is wholly located) have been broadly
in line with expectations. As usual, performance for TRIG's
portfolio as a whole, across all geographic regions, will be
reported in the Company's annual results due to be announced in
February 2018.
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Richard Crawford
Matt Dimond
Tulchan Communications +44 (0) 20 7353 4200
Martin Pengelley
Latika Shah
This information is provided by RNS
The company news service from the London Stock Exchange
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