U.K. investment company The Renewables Infrastructure Group Ltd., or TRIG, exchanged contracts to acquire a 100% interest in Blary Hill Energy Ltd., which owns the rights to construct a 35-MW wind farm in west Scotland.
The investment is expected to complete simultaneously with the start of construction in the first quarter of this year. The project will begin operations in the first quarter of 2022.
The wind farm, which is being developed by Renewable Energy Systems Ltd. under a fixed price engineering, procurement and construction contract, will not receive any government subsidies and will instead sell its power into the wholesale market, according to a Jan. 21 news release. As a result, it is being funded without any third-party, project-level debt.
Funds managed by TRIG and Dutch pension investor APG Groep NV recently announced that they are acquiring the 396-MW Merkur offshore wind farm in the German North Sea.