TRIG dives into offshore wind
£80m deal secures 14.7% stake in Sheringham Shoal off UK
Investment company The Renewables Infrastructure Group has taken a 14.7% share in the 317MW Sheringham Shoal offshore wind farm in the UK for £80m.
The deal, equivalent to around 47MW of capacity, marks TRIG’s entry into the offshore wind sector and boosts its project portfolio to 820MW.
Cash was drawn from a revolving acquisition facility. The company said the purchase “is consistent with TRIG’s strategy of investing in long-term income-producing projects”.
TRIG secured the stake via a new joint venture holding company alongside Equitix Limited, which now holds 25.3% of Sheringham. The other partners are Statoil with 40% and the Green Investment Group with 20%.
Sheringham (pictured) features 88 Siemens 3.6MW turbines and has been live since 2012. It will earn 2 ROCs per megawatt-hour until 2032.