TRIG acquires a further 2.4% equity interest in Hornsea One

20th Jul 2022 07:34

(Sharecast News) - 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.

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