The Renewables Infrastructure Acquires Garreg Lwyd Hill Wind Farm in UK from Renewable Energy Systems for USD129 Million

Published: May 17 2017
Deal Summary

The Renewables Infrastructure Group Limited, a renewable energy infrastructure investment company, has acquired Garreg Lwyd Hill wind farm situated in Powys, Wales, UK from Renewable Energy Systems Holdings Ltd, a renewable energy company, for a purchase consideration of GBP100 million (USD129.07 million) including working capital and subject to small contingent post-close adjustments. The total installed capacity of the wind farm is 34 MW comprising 17 Vestas V100 turbines with an installed capacity of 2 MW each. The transaction implies a deal value of USD3.79 million per MW.

The wind farm has a long-term O&M agreement with Vestas Wind Systems A/S, which includes production performance incentives, and a power purchase agreement (PPA) with Shell Energy.

InfraRed Capital Partners Ltd acted as investment manager to TRIG and as operations manager to Renewable Energy Systems for the transaction. Tulchan Communications LLP acted as financial advisors to TRIG for the transaction.

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