Fred. Olsen Wind owns 433MW portfolio of wind power projects spread over four different locations in Scotland, UK.
Under the terms of the agreement, TRIG and Fred Olsen Renewables will invest in the portfolio of six operating onshore wind farm projects, including Crystal Rig 1 and 2 in East Lothian, Rothes 1 and 2 and Paul’s Hill in Moray and Mid Hill in Aberdeenshire.
The wind farms also underpinned by power purchase agreements (PPAs) with Germany’s E.on SE, Norway’s Statkraft a France’s EDF.
The deal also includes 100% of a mezzanine-level loan.
InfraRed Capital Partners Infrastructure Director and TRIG investment manager Richard Crawford said: "This is a major expansion in the size of TRIG’s business, increasing the portfolio by approximately half and bringing further advantages of scale and project diversification to TRIG’s investors."
The acquisition of six operating onshore wind farm is expected to increase TRIG’s portfolio net generating capacity by 48% to 658MW.
After the transaction, TRIG’s portfolio will consist of 36 projects with nearrly 74% of the projects by value being onshore wind and 26% being solar photo voltaic.
