June 3 (Renewables Now) - The Renewables Infrastructure Group Ltd (LON:TRIG) has signed a deal to buy a 25% indirect equity interest in the 330-MW Gode Wind 1 offshore wind farm in the German portion of the North Sea.
TRIG is buying the stake from Global Infrastructure Partners (GIP), which is selling its entire 50% ownership of the asset. Ørsted A/S (CPH:ORSTED), in turn, continues to hold its own 50% stake in Gode Wind 1.
This transaction will increase TRIG’s portfolio capacity to 1,446 MW, with Gode Wind 1 representing about 8%. The non-UK share of the portfolio will amount to 42%, including agreed commitments.
TRIG noted that its investment manager, InfraRed Capital Partners, is developing a network of potential co-investors for TRIG and may divest a portion of its larger non-UK investments to such investors.
Gode Wind 1 commenced commercial operations in February 2017, with 55 units of 6-MW Siemens Gamesa turbines installed. The wind park is supported by a feed-in tariff (FiT) until November 2027, after which it will benefit from a floor price for a further 10 years.