Clean energy group invests £80m in 317MW offshore wind farm

The Renewables Infrastructure Group (TRIG) has invested around £80 million for a 15% stake in a 317MW offshore wind farm off the coast of Norfolk. The move, which is the […]

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By Jonny Bairstow

The Renewables Infrastructure Group (TRIG) has invested around £80 million for a 15% stake in a 317MW offshore wind farm off the coast of Norfolk.

The move, which is the company’s first allocation in the offshore wind sector, increases its portfolio net generating capacity by around 47MW to a total of 820MW.

The firm will make the investment in a new joint venture holding company alongside funds managed by Equitix, representing a 25% stake, Statoil ASA with 40% and Green Investment Group, managed by Macquarie Group, with 20%.

TRIG Chairman Helen Mahy said:”The board of TRIG is delighted to conclude the company’s first investment in offshore wind, an industry in which the UK has built a leading global market share and which is expected to contribute a significant proportion of the UK’s renewable energy capacity build-out in the medium-term.”