(Alliance News) - Renewables Infrastructure Group Ltd on Monday announced it is selling three windfarms to hydropower-focused renewable energy generator company Statkraft AS.
Renewables Infrastructure, a Guernsey-based investor in renewable energy infrastructure projects, said the sales of the windfarms based in Ireland are for a total of EUR25 million, a 26% premium to the valuation of the windfarms as at December 31.
Oslo-based buyer Statkraft operates assets in hydropower, wind, solar, gas and biomass.
Renewables Infrastructure head of Energy Income Funds Richard Crawford said: "Balance sheet discipline is crucial in a challenging macro-economic environment. These accretive disposals underline the quality of the company's portfolio. We remain confident in TRIG's long-term strategy and continue to actively seek ways to deliver value for shareholders through capital allocation."
By Tom Budszus, Alliance News reporter
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Renewables Infrastructure Group (TRIG)