TRIG to acquire 22.5-MW Scottish wind project from RES

UK investment company The Renewables Infrastructure Group Ltd (LON:TRIG) said today it has agreed to acquire a 22.5-MW onshore wind project in Scotland from Renewable Energy Systems (RES).

TRIG is buying the project as part of its First Offer Agreement with RES, the company's operations manager.

The wind project is in an advanced stage of construction, with commissioning scheduled for the first quarter of 2017. Its addition would bring the net generating capacity of TRIG's portfolio to 708 MW.

Concurrent with the acquisition announcement the company proposed a GBP-25-million (USD 32.8m/EUR 29.8m) placing pursuant to its share issuance programme. It will use the proceeds to pay down amounts drawn under its acquisition facility and to fund the newly unveiled purchase and potentially further pipeline assets. The bookbuild is expected to close on September 23.

(GBP 1.0 = USD 1.313/EUR 1.194)

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