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TRIG and Equitix acquire further equity of Hornsea One

By: Tom Russell 20/07/2022 TRIG

General Windfarms

The Renewables Infrastructure Group Limited (TRIG) announced that it has exchanged contracts to acquire a further 2.4% equity interest in the Hornsea One offshore wind farm from Global Infrastructure Partners.

It follows news earlier this year that TRIG acquired a 7.8% equity interest in the Hornsea One from Global Infrastructure Partners. Upon completion of the latest incremental investment, TRIG will hold a 10.2% interest in Hornsea One, with the project representing 9% of TRIG's portfolio, by value.

All required consents have been received in respect of TRIG's initial investment in a 7.8% equity interest in the Project, which is expected to complete this month. Completion of the incremental investment is expected to occur, following receipt of consents, by the end of Q3 2022.

Richard Crawford, of InfraRed Capital Partners, said: "The acquisition of additional investment in Hornsea One, which is currently the world's largest operational windfarm, exemplifies the Company's strategy of investing, including the reinvestment of retained profits, in high quality renewables projects which contribute to European energy security and decarbonisation. TRIG's investment commitments into European renewables total in excess of £400m year-to-date, the majority of which has been in the UK."
In a separate announcement Equitix revealed it is purchasing additional equity in Hornsea One. It follows an announcement in March that Equitix purchased a minority stake of 4.7 % in the project.

Developed by Ørsted, Hornsea One is the world’s largest offshore wind farm to date. It is located in the North Sea off the east coast of England. The site consists of 174 Siemens Gamesa Renewable Energy. SWT-7.0-154 turbines, spanning across an area of 407km², all of which have been installed. The site was fully commissioned at the end of 2019 and is anticipated to power over one million homes in the UK. The project also benefits from an inflation-linked Contract for Difference (CfD) subsidy, with 13 years remaining.

For more information on offshore wind farms worldwide, click here. Alternatively, you can view projects across the globe using 4C Offshore's Interactive Map.

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TRIG and Equitix acquire further equity of Hornsea One

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