London-listed renewable energy infrastructure investment company The Renewables Infrastructure Group (TRIG) has acquired a 17.5% stake in Beatrice offshore wind farm from Copenhagen Infrastructure Partners.
Located off the coast of Scotland, Beatrice is a 588MW offshore wind farm developed by SEE consisting of 87 turbines that commenced operations in 2018.
Richard Crawford of InfraRed Capital Partners, said: “We are pleased to have the opportunity to invest in this high-quality project developed by SSE, who are a leading generator of renewable electricity in the UK. As investment Manager, InfraRed seeks attractive opportunities for TRIG that increase the robustness of the portfolio, helping to deliver sustainable returns to shareholders from a diversified portfolio of renewables infrastructure. This major acquisition represents a continuation of this investment strategy and will be the Company’s third investment in a UK offshore wind farm and its 5th in the offshore wind sector.”
Beatrice will represent approximately 12% of TRIG’s investment portfolio, and approvals are expected to received within weeks.
The other holders in the wind farm are SSE with 40%, Red Rock Power with 25% and Equitix Investment Management who are also acquiring a 17.5% stake from Copenhagen Infrastructure Partners.