Trig to invest $61 million in French solar projects

Share

The Renewable Infrastructure Group Ltd (Trig) – a Guernsey, Channel Islands-based clean energy investor – has announced it is to invest up to $61 million in 15 solar PV projects located in France.

The investment plan has been drawn up alongside French clean power company Akuo Energy Group, which will hold a 51% stake in the completed projects, compared to Trig’s 49%. Trig’s portion of the purchase amounts to 21.7 MW of the total capacity and has been funded – via a mezzanine loan mechanism – by an acquisition facility the company holds with Bank of Scotland and National Australia Bank.

The solar projects will comprise ground-mounted and rooftop installations, and will be located across various parts of mainland France, Corsica, and even the French overseas territories of La Reunion and Guadaloupe.

Once completed, each of the solar installations will have long-term power purchase agreements (PPAs) signed with Electricite de France SA, according to a Trig statement.

"The transaction adds attractive, highly predictable revenue streams to Trig through the French FIT at a time when the volume of solar opportunities in the U.K. is expected to decline with the reductions in government support," said Richard Crawford, who works as Trig’s investment manager via his role as director of infrastructure at InfraRed Capital partners.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.