A prominent renewable energy investor appears set to expand a Scottish windfarm portfolio which played a key part in the business achieving strong growth in profits in the latest year. The manager of The Renewables Infrastructure Group (TRIG) underlined the appeal of Scotland where a combination of favourable winds and a strong supply chain has helped the company achieve good returns on investment. TRIG grew annual profits from £90m to £123m last year, during which it had more windfarms in Scotland than in any other country. Under the management of InfraRed Capital Partners, TRIG has amassed a portfolio of 14 windfarms in Scotland out of 33 in total. Six Scottish windfarms are included in its 10 largest investments. “Within the UK Scotland has the best environment for onshore wind projects,” said InfraR ed’s Richard Crawford, who added he expected Scotland to figure in TRIG’s growth plans. TRIG underlined its interest in Scottish wind projects in June by acquiring a stake in the Solwaybank development in Dumfries and Galloway. It has invested £48.8m in the project with £33m to follow. The company said in August that it would invest £20m in a battery storage facility in Broxburn, West Lothian that could a play a part in efforts to cope with fluctuations in the supply of renewable energy and demand for electricity.
Herald 20th Feb 2019 read more »