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Renewables Infrastructure acquires Broxburn

14 August 2017 09:23

The Renewables Infrastructure Group (TRIG) has acquired a 100% interest in Broxburn, a battery energy storage project which is currently under construction in West Lothian, Scotland.

Broxburn, a 20MW battery, was developed and is being constructed by RES, TRIG's operations manager.

Construction is scheduled to be completed in early 2018.

The project is expected to have an operational life of 15 years.

Broxburn has no debt financing and benefits from a bespoke bilateral contract with National Grid Electricity Transmission to provide two-way grid balancing services.

TRIG's total investment of £20m is expected to be financed from cash resources and a drawdown of the group's revolving acquisition facility.

TRIG's portfolio now consists of 56 projects and will have an aggregate net output capacity of 774MW once Broxburn is constructed.

At 9:23am: (LON:TRIG) The Renewables Infrastructure Group Ltd share price was 0p at 110.2p

Story provided by StockMarketWire.com

Related Company: TRIG

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