The Renewables Infrastructure Group (TRIG), a UK-based investment firm advised by InfraRed Capital Partners, has agreed to increase its shareholding in the Hornsea One offshore wind farm in the UK.
The company will buy an additional 2.4% equity interest in the 1.2GW project from Global Infrastructure Partners, increasing its holding in the project to 10.2%.
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The move comes after TRIG acquired an initial 7.8% equity stake in Hornsea One in March. The previous transaction was also conducted with Global Infrastructure Partners.
TRIG has already received all necessary consents regarding the initial stake holding in the project. Approvals for the incremental investment are expected by the end of the third quarter of this year.
InfraRed Capital Partners’ Richard Crawford 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.”
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By GlobalDataLocated offshore from England’s north-east coast, Hornsea One covers an area of around 407km².
The project features 7MW wind turbines and can deliver enough clean electricity to power more than one million homes.
It has been in operation since 2020 and is claimed to be the world’s largest operational offshore wind farm.
Earlier this year, TRIG acquired a 49% stake in Project Valdesolar, a 264MW solar power park in Spain.
The company acquired the stake from Repsol Renovables, which holds the remaining 51% stake in the solar project.
Located in Badajoz province, Project Valdesolar covers an area of more than 6km² and can meet the power requirements of 140,000 homes.
