The Renewables Infrastructure Group (TRIG) has completed the acquisition of a 36% equity interest in Merkur, the 396MW operational offshore wind farm in the German North Sea.
TRIG intends to sell down a share of its investment to minority co-investors managed by InfraRed, leaving TRIG with an approximate 25% equity interest in the project. This is expected to complete in July 2020 and once completed, the investment is expected to represent approximately 8% of TRIG's portfolio value. TRIG has also partnered with the Dutch pension investor, APG, who acquired the remaining 64% in the project. Commercial operations commenced in June 2019 and the project benefits from a Feed-in-Tariff for the next 13 years (until June 2033), followed by a floor price for a further six years.