TRIG to buy 25% of 330 MW German offshore wind project

The Renewables Infrastructure Group (TRIG) has announced that the Company has exchanged contracts to acquire a 25% indirect equity interest in Gode Wind 1, a 330 MW offshore wind farm, located in the German North Sea.

The project has established a strong track record since operations commenced in February 2017 and benefits from an attractive Feed-In Tariff. Following the completion of the transaction, Gode Wind 1 would represent approximately 8% of the portfolio.

The facility was developed and constructed by Ørsted who will continue to own 50% of the equity in the project and also provide Operations & Maintenance (O&M) services under a 20-year contract.

The wind farm is comprised of 55 Siemens Gamesa 6 MW turbines. It is supported by a Feed-in-Tariff until November 2027, followed by a floor price for a further 10 years.

The investment is being acquired from Global Infrastructure Partners (GIP) as part of the divestment of their 50% stake in the underlying project.