Renewables Infrastructure Grp (The) Announcement by TRIG's co-investor (4114N)
09 May 2018 - 1:47AM
UK Regulatory
TIDMTRIG
RNS Number : 4114N
Renewables Infrastructure Grp (The)
08 May 2018
8(th) May 2018
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 2018 first quarter results
announcement on 4(th) May 2018 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 nearly one quarter of TRIG's portfolio by
value. Bonheur ASA reported that during the first quarter of 2018,
the Fred. Olsen UK Wind Portfolio had like-for-like generation 9%
below that of the first quarter of 2017.
In the TRIG portfolio, wind generation in the East of Scotland
(where the Fred. Olsen UK Wind Portfolio is located) was below
budget as a result of lower than expected wind speeds. However,
wind generation in other geographies in the TRIG portfolio exceeded
budget, demonstrating the benefits of TRIG's diversification.
Overall, over the same period, TRIG's generation was close to
budget.
As usual, performance for TRIG's portfolio over the first half
of 2018, across all geographic regions, will be reported in the
Company's interim results which will be announced on 8(th) of
August.
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Richard Crawford
Phil George
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
END
NORFKFDQPBKDQPK
(END) Dow Jones Newswires
May 08, 2018 11:47 ET (15:47 GMT)
The Renewables Infrastru... (LSE:TRIG)
Historical Stock Chart
From Apr 2024 to May 2024
The Renewables Infrastru... (LSE:TRIG)
Historical Stock Chart
From May 2023 to May 2024