British fund TRIG buys assets from Statkraft and reopens with InfraRed the corporate renewables business in Spain

The TRIG fund, which is listed on the London Stock Exchange, has completed a purchase of photovoltaic assets in Spain from the Nordic group Statkraft. The transaction involves 234 megawatts. It would be valued at more than 163 million euros and would be the largest in the sector since the return from the summer break. This brings back the fever of corporate movements to the renewables market in Spain.

TRIG announced a few days ago that it was seeking to position itself in Spain. With this operation, it is setting a first foot in the renewable energy market in this country. But it assures that it will not be the only move.

The projects have been developed and are being built by Statkraft, the Norwegian state electricity company.

TRIG is a company founded in 2013, the year it raised £300 million (€350 million) through a London IPO. It invests in the renewables sector with the aim of offering a stable long-term return to its shareholders thanks to the income obtained from the sales of electricity and CO2 emission rights. The firm currently has a market capitalization of more than 2.6 billion pounds (3 billion euros).

Hand in hand with InfraRed

TRIG operates in a particular way. The InfraRed Capital fund, which specializes in infrastructure – with investments of more than $12 billion globally – manages its investments, while the Renewable Energy Systems (RES) group, the world’s largest independent renewables operator, manages the portfolio of assets.

The asset manager has a portfolio of wind and photovoltaic assets totaling 1,941 megawatts (MW) of installed capacity in Europe and the United Kingdom, and has been considering acquisitions in Portugal, Denmark, Belgium, Norway, the Netherlands and Finland, in addition to Spain.

Source: Expansión.