Local sources have noted that UK-based RES Group (Renewable Energy Systems) and InfraRed Capital are teaming up to launch a new investment company to acquire an initial 276MW portfolio of onshore wind and solar PV assets in the UK, Ireland and France.

The Renewables Infrastructure Group (TRIG) will be incorporated in Guernsey and will  launch an initial public offering next month worth up to £300m on the London Stock Exchange.

Operational management of assets will be handled by renewables developer Renewable Energy Systems (RES). RES will use part of the proceeds from the initial listing to take a 20% stake in TRIG.

InfraRed will act as investment manager for the company while RES will be operations manager

The portfolio will include 14 wind farms and four solar parks, details of which will be unveiled in a prospectus during this week. The company will also have the right of first offer on RES assets currently in development.