LONDON, May 27 (Reuters) - London-listed investment company
Renewables Infrastructure Group (TRIG) said on Thursday
it has agreed to acquire a 50% stake in two Swedish onshore wind
farm projects set to begin construction later this year.
TRIG is buying the wind farms from Nordic renewables
developer Arise. InfraRed Europea Infrastructure Income Fund 4
will acquire the other 50% stake in the wind farms.
The projects, together called "Twin Peaks", are in central
Sweden and have a combined capacity of 242 megawatts.
In a separate statement, Arise said it will receive a fixed
consideration of 8.5 million euros ($10.4 million) on completion
of the sale and an additional 11.6 million euros when
construction of the projects is completed.
Construction is expected to commence in the third quarter
and be completed in the first half of 2024, TRIG said.
The transaction is expected to be completed by July.
($1 = 0.8197 euros)
(Reporting by Nina Chestney;Editing by Elaine Hardcastle)