The Renewables Infrastructure Group (TRIG) has agreed to buy a 14.3 per cent stake in the newly completed East Anglia One offshore windfarm from the Green Investment Group (GIG) for an undisclosed price.
It negotiated the deal in partnership with the InfraRed European Infrastructure Income Fund 4, which will also acquire a 5.7 per cent stake in the installation from GIG.
East Anglia One comprises 102 turbines with a combined generation capacity of 714MW. The project was developed by Scottish Power Renewables and commissioned in June.
TRIG chair Helen Mahy said: “We are delighted to be investing in this high quality asset which marks our continued commitment to supporting the global transition to a more sustainable future, and to be joining with such well-established and respected partners in Green Investment Group and Scottish Power Renewables.
“East Anglia One is TRIG’s fourth investment in the offshore wind sector and its second offshore wind investment in the UK. Offshore wind is essential to the UK meeting its 2050 net-zero targets.”
The windfarm secured a Contract for Difference at a strike price of £119.89/MWh (2012 prices) in the first competitive allocation round in 2015.