Renewables Infrastructure Group Ltd on Monday announced it is selling three windfarms to hydropower-focused renewable energy generator company Statkraft AS.

Renewables Infrastructure, a Guernsey-based investor in renewable energy infrastructure projects, said the sales of the windfarms based in Ireland are for a total of €25 million, a 26% premium to the valuation of the windfarms as at December 31.

Oslo-based buyer Statkraft operates assets in hydropower, wind, solar, gas and biomass.

Renewables Infrastructure head of Energy Income Funds Richard Crawford 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.’

Copyright 2023 Alliance News Ltd. All Rights Reserved.