Renewables Infrastructure Grp (The) Announcement by TRIG's co-investor (7269N)
October 28 2016 - 3:30AM
UK Regulatory
TIDMTRIG
RNS Number : 7269N
Renewables Infrastructure Grp (The)
28 October 2016
28 October 2016
The Renewables Infrastructure Group Limited ("TRIG" or the
"Company")
Announcement by TRIG's co-investor in the Fred. Olsen UK Wind
Portfolio
The Board notes the Q3 2016 results announcement this morning 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 approximately one third of TRIG's
portfolio by value. Recent electricity generation from the six
projects has recovered following a period of relatively low wind
speeds in the first half of the year, as already described in
TRIG's 2016 interim results for the six months to 30 June 2016
which were published on 18 August 2016.
Bonheur reported that the Fred. Olsen UK Wind Portfolio produced
gross generation of 218GWh in Q3 representing a capacity factor of
approximately 23% (excluding compensated downtime for grid
curtailment) compared to 18% in Q2. The Q3 2016 capacity factor was
also slightly ahead of the comparable Q3 2015 performance (with
capacity factor of 22% and gross generation of 205GWh). In total,
the gross generation for the nine months to 30 September 2016 for
the six projects was 682GWh (Q1-Q3 2015: 863GWh).
While some short-term variability in production is to be
expected during the year from intermittent energy sources such as
wind and solar, in the longer term TRIG's portfolio has performed
at close to predicted levels of production. Performance for the
portfolio in 2016 as a whole will be reported on, as usual, in the
Company's annual results due to be announced in February 2017.
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800
Richard Crawford
Matt Dimond
Tulchan Communications +44 (0) 20 7353 4200
Doug Campbell
Latika Shah
This information is provided by RNS
The company news service from the London Stock Exchange
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