The Renewables Infrastructure Group (TRIG) has announce that the company has acquired a 25% indirect equity interest in Gode Wind 1, a 330MW offshore wind farm, located in the German North Sea, for an undisclosed sum.
The project started operations in February 2017. Following the completion of the transaction, Gode Wind 1 would represent approximately 8% of the portfolio. The project was developed and constructed by Ørsted who will continue to own 50% of the equity in the project and also provide Operations & Maintenance (O&M) services under a 20 year contract. The project is comprised of 55 Siemens Gamesa 6MW turbines. It is supported by a Feed-in-Tariff until November 2027, followed by a floor price for a further 10 years. The investment is being acquired from Global Infrastructure Partners (GIP) as part of their divestment of their 50% stake in the underlying project.