April 1 (Renewables Now) - The Renewables Infrastructure Group Ltd (LON:TRIG) has bought the 40-MW Tille et Venelle wind farm being built in Burgundy, central France.
TRIG acquired the project from China-based Envision Energy for a total consideration of around EUR 30 million (USD 33.7m), including construction costs and net of project-level debt. The deal boosts the net generating capacity in TRIG’s portfolio to 1,363 MW, the company said on Friday.
The Tille et Venelle wind park is scheduled for commissioning in the first quarter of 2020. Developed by Velocita Energies, a unit of Envision Energy that is in charge of its construction, it will use 16 Envision EN-131 turbines of 2.5 MW each. The scheme will operate under a 15-year subsidy in the form of an inflation-linked Contract for Difference (CfD) with France’s EDF.
TRIG has hired Renewable Energy Systems (RES) as owner's engineer for the project. The firm noted that with the latest purchase its construction exposure stands at 7% of its portfolio value.
(EUR 1.0 = USD 1.122)