The Renewables Infrastructure Group (TRIG) is selling three wind farms in the Republic of Ireland to renewables group Statkraft for €25m.

The London-listed InfraRed Capital Partners-managed investment company said the disposal price of the wind farms represents a 26% premium to the valuation of the 35MW portfolio as of 31 December 2022.

TRIG said the assets, which are nearing the end of their expected lives, have been held for about 10 years, adding that the “profit on disposal reflects the development opportunity available to the buyer for life extension and repowering”.

Richard Crawford, the head of energy income funds at InfraRed Capital Partners, said: “Balance sheet discipline is crucial in a challenging macro-economic environment. These accretive disposals underline the quality of the company’s portfolio.

“We remain confident in TRIG’s long-term strategy and continue to actively seek ways to deliver value for shareholders through capital allocation.”

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