Renewable investment group acquires piece of world’s largest offshore wind farm

The Renewables Infrastructure Group (TRIG) an London listed renewable energy investment company has acquired a stake in Hornsea One, the largest offshore wind farm in the world.

Located off the Yorkshire coast, Hornsea One spans an area of approximately 407 sqkm, TRIG has acquired a 7.8% equity interest in the Orsted developed and operated site from Global Infrastructure Partners.

The deal which is expected to complete at the end of H1 2022, will see Hornsea One represent 8% of TRIG’s portfolio by investment.

Commenting on the purchase Richard Crawford of InfraRed Capital Partners which advised TRIG, said: “Hornsea One is a flagship project globally for the offshore wind sector. As with each of TRIG’s four UK offshore wind investments, Hornsea One’s inflation-indexed subsidy will contribute to the company’s strategy to balance subsidised and unsubsidised revenues and to deliver sustainable returns to shareholders.”

The deal comes as TRIG also announced an extension to its revolving credit facility, taking the total value to £600m.

Crawford added: “These financing arrangements will contribute to funding the acquisition as well as the company’s construction projects, and provide headroom to pursue an attractive pipeline of opportunities and further progress our portfolio diversification strategy.”