TRIG acquires a further 2.4% equity interest in Hornsea One
Investment company the Renewables Infrastructure Group has acquired a further 2.4% equity interest in the Hornsea One offshore wind farm, located off the coast of northeast England.
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The Renewables Infrastructure Group, which purchased the stake from Global Infrastructure Partners for an undisclosed sum, said on Wednesday that it will now hold a 10.2% interest in Hornsea One, with the project representing 9% of the company's portfolio, by value.
The FTSE 100-listed firm highlighted that the project had demonstrated a "strong operational performance" since operations commenced in 2020, with a generation capacity of 1.2gigawatts - enough clean electricity to power more than 1.0m homes.
Richard Crawford of TRIG's investment manager 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 £400.0m year-to-date, the majority of which has been in the UK."
As of 0925 BST, TRIG shares were up 0.11% at 135.35p.
Reporting by Iain Gilbert at Sharecast.com