3rd Jun 2019 10:54
LONDON (Alliance News) - The Renewables Infrastructure Group Ltd on Monday announced the purchase of a stake in a German wind farm, for an undisclosed amount.
Renewables Infrastructure Group, or TRIG, has taken 25% of the Gode Wind 1 asset, a 330 megawatt offshore wind farm in Germany's North Sea. It began operating in February 2017.
Gode is 50%-owned and operated by Orsted, who will continue th operate the site. There are 55 turbines on the wind farm.
Following the acquisition, TRIG's portfolio will be 42% outside of the UK, with Gode making up 8% of the portfolio.
Chair Helen Mahy said: "The board of TRIG is delighted to make the company's second investment in offshore wind in this important market. Offshore wind has developed into an attractive investment category and has been growing at pace in Germany over the last four years.
"TRIG now has investments in each of the two largest offshore wind markets in the world."
Shares were 0.2% lower on Monday morning at 125.58 pence each.
Related Shares:
Renewables Infrastructure Group