The Renewables Infrastructure Group (TRIG), a UK-based investment company advised by InfraRed Capital Partners, has decided to raise its shareholding in the UK’s Hornsea One offshore wind farm. The company will increase its stake in the 1.2 GW project to 10.2 per cent by purchasing an additional 2.4 per cent equity interest from Global Infrastructure Partners. The action follows TRIG’s initial 7.8 per cent equity investment purchase of Hornsea One in March. Global Infrastructure Partners were also involved in the prior transaction.
All required approvals for TRIG’s initial stake in the project have already been granted. By the end of the third quarter of 2022, approvals for the additional investment are anticipated. Hornsea One, which is off the coast of England’s northeast coast, has a total size of around 407 km2. More than a million homes can be powered by the 7 MW wind turbines that are part of the project. The largest operational offshore wind farm in the world, it has been in operation since 2020.
In April 2022, TRIG purchased a 49 per cent stake in Repsol Renovables’ Project Valdesolar, a 264 MW solar power park in Spain. Repsol would own the remaining 51 per cent of the Valdesolar project, which it developed and constructed. The deal’s financial terms have yet to be revealed. The functioning solar park, which is located in the province of Badajoz, spans more than 6 kilometres sq. and has the capacity to power 140,000 households.