The Renewables Infrastructure Group Limited is to acquire a 25% interest in the 330MW Gode 1 offshore wind farm in the German North Sea from Global Infrastructure Partners for an undisclosed amount.
TRIG said that when the deal is completed it will increase the company’s portfolio to 1446MW, with Gode 1 representing about 8%.
Gode 1 was developed and built by Orsted, which will continue to own 50% and provide operations and maintenance under a 20-year contract. GIP held the remaining 50%.
The wind farm features 55 Siemens Gamesa 6MW turbines and has been operational since February 2017.
It is supported by a feed-in tariff until November 2027, after which it is guaranteed a floor price for 10 years, TRIG said.
TRIG chairman 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.”
TRIG is advised by InfraRed Capital Partners as investment manager and RES as operations manager.