We would love to hear your thoughts about our site and services, please take our survey here.

Less Ads, More Data, More Tools Register for FREE

IN BRIEF: Renewables Infrastructure Group buys battery firm Fig Power

Tue, 13th Feb 2024 09:24

Renewables Infrastructure Group Ltd - invests in wind, solar and battery storage projects in Europe; advised by InfraRed Capital Partners Ltd - Buys Fig Power, a battery storage developer based in Bristol that was formerly associated with Hydrock Consultants Ltd. Renewables Infrastructure expects to spend about GBP20 million on the investment over the next two years, half for the up-front purchase price and half for ongoing development expenses. After that, Fig is expected to be self-funding. Fig, whose slogan is 'firm, flexible energy', has a 1.7 gigawatt development pipeline in the UK, of which 400 megawatts are in nine advanced projects.

Renewables Infrastructure also says it is "at an advanced stage on divestment activities", cash from which would be used to reduce borrowings that stood at GBP364 million at the end of 2023.

Current stock price: 99.70 pence

12-month change: down 25%

By Tom Waite, Alliance News editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Related Shares

More News
22 Mar 2024 12:34

Renewables Infrastructure sells two wind farms for GBP51 million

(Alliance News) - Renewables Infrastructure Group Ltd on Friday announced the sale of two UK onshore wind farms.

21 Mar 2024 15:00

UK dividends calendar - next 7 days

12 Mar 2024 10:08

IN BRIEF: Renewables Infrastructure sells Irish wind farm at premium

Renewables Infrastructure Group Ltd - invests in renewable energy infrastructure, advised by InfraRed Capital Partners as investment manager - Agrees ...

12 Mar 2024 07:23

TRIG sells entire stake in Pallas wind farm

(Sharecast News) - The Renewables Infrastructure Group (TRIG) has finalised the sale of its entire equity stake in Pallas, an onshore wind farm in the...

28 Feb 2024 17:31

EARNINGS: Hutchmed revenue surges, Craven House's loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.