TRIG completes purchase of 40 MW Tille et Venelle wind project from Envision Group

London-listed investment company, The Renewables Infrastructure Group (TRIG), has completed the purchase of an under construction 40 MW Tille et Venelle wind farm located in Burgundy, central France. The project was acquired from Envision Energy, a leading turbine manufacturer and developer head-quartered in China. The total consideration paid was EUR30 million (US$33.69 million), including construction costs and net of project level debt financing. 

Tille et Venelle was developed by Velocita Energies, a Paris-based Envision Group company, which is currently managing the construction of the wind farm. RES are contracted as owner's engineer on behalf of TRIG. The Project is due to become operational during Q1 2020 and will comprise 16 Envision EN-131 turbines with a capacity of 2.5MW each.

The Project benefits from a 15-year subsidy in the form of inflation linked Contract for Difference with the utility company EDF which fixes the price to be paid for the power. As a result, the Project has no power price risk for the duration of the subsidy term.

As a result of this investment, TRIG's construction exposure now stands at 7