The Renewables Infrastructure Group (TRIG) has signed its first corporate power purchase agreement (PPA), for a new wind farm in Scotland.
TRIG’s PPA is with BT Group and is for production from for Blary Hill onshore wind farm. Pricing has been agreed for the duration of the 10-year PPA on pay-as-produced terms. It provides TRIG with long-term price security while delivering BT a supply of renewable power at an agreed price.
TRIG says the Blary Hill project, was completed in early 2022 within budget and ahead of schedule. Located in Scotland, the windfarm has a 35MW capacity, consists of 14 Nordex 2.5MW turbines and was fully funded from re-investment proceeds.
Richard Crawford, Head of Energy Income Funds at InfraRed Capital Partners, TRIG’s Investment Manager, said: “This is TRIG’s first corporate PPA and we are pleased to be entering this agreement with a strong counterparty in BT Group that supports the UK transition to net zero. Off-takers are seeing the benefits of fixing following the high power prices and volatility seen in 2022. We continue to look for attractive opportunities to fix revenues for TRIG, including through corporate PPAs.”
Blary Hill is managed by RES, TRIG’s operations manager.