TRIG, a London-listed investment company, has signed contracts to acquire a 50 per cent stake in two onshore wind farms, Ranasjö and Salsjö, which are in the pre-construction stage. The windfarms are about 20 km apart and share grid and access infrastructure. They are located near Sollefteåand about 100 km from Östersund, in the SE2 Nord Pool price area.
The projects have a combined capacity of 242 MW and are located in central Sweden. The transaction is expected to complete by July 2021, although it is subject to some conditions being satisfied. The project constructin is expected to begin in the latter part of 2021 and is expected to be complete in 2024. The Ranasjö project will comprise 25 turbines whilst the Salsjö project will comprise 14 turbines.
Both wind farms will use Siemens Gamesa 170 6.2MW turbines with Siemens providing O&M services under a 30-year agreement. Arise, which develops projects in the Nordics and the United Kingdom will provide the asset management services, while RES providing oversight through the owner’s engineer role during construction.
InfraRed European Infrastructure Income Fund 4 will acquire the other 50 per cent interest in the project alongside TRIG. The projects are being funded on an ungeared basis and have bilaterally been sourced from Arise. TRIG had earlier acquired the 213MW Jadraas wind farm in 2019 from Arise. When they are completed, the windfarms are together expected to represent approximately 4.5 per cent of TRIG’s portfolio value on a fully committed basis. Once operational the projects will provide enough electricity to power more than 45,000 homes.