TRIG Sells Part of Stake in Gode Wind 1 Offshore Wind Farm

The Renewables Infrastructure Group (TRIG) has decided to sell a portion of its stake in the 330 MW Gode Wind 1 offshore wind farm in Germany.

The London-listed green energy investment firm announced it has reached a €100 million ($108 million) agreement with infrastructure investor Equitix. This transaction involves TRIG parting with a 15.2% stake in the wind farm at a 9% premium to its carrying value.

Gode Wind 1, situated 45 kilometers off the German North Sea coast, began commercial operations in February 2017. The wind farm consists of 55 turbines and is part of the larger Gode Wind project.

Following the completion of this deal, TRIG will retain a 9.8% stake in the wind farm. The ownership structure of the wind farm also includes Ørsted and Glennmont Partners. This acquisition marks Equitix’s thirteenth offshore wind farm purchase in Europe.