The Renewables Infrastructure Group Limited (LON:TRIG), a London-listed renewables investment company advised by InfraRed Capital Partners as Investment Manager and Renewable Energy Systems as Operations Manager, has announced that it has entered into a corporate Power Purchase Agreement (PPA) for its Garreg Lwyd and Earlseat onshore wind farms with Telefonica UK / Virgin Media O2 (VMO2).
Pricing has been agreed for the duration of the 10-year PPA on pay-as-produced terms. The new PPA provides TRIG with long-term price security while delivering VMO2 a supply of renewable power at an agreed price.
Located in Wales and Scotland respectively, the wind farms have a combined generational capacity of 50MW. The projects are managed by RES, TRIG’s operations manager.
Minesh Shah, Managing Director for The Renewables Infrastructure Group said: “Actively managing project revenues is one of the key growth levers for TRIG. We are therefore pleased to be entering into this corporate power purchase agreement with Virgin Media O2. Such agreements present an attractive opportunity to support businesses in accessing renewable electricity at a fixed price, while delivering secure, long-term revenue streams for our shareholders – a structure that benefits both commercial decarbonisation and sustainable investment.”
