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TRIG acquires interest in offshore windfarm
StockMarketWire.com
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The Renewables Infrastructure Group Limited (TRIG) said it has exchanged contracts to acquire an equity interest of 17.5% in the Beatrice offshore wind farm from Copenhagen Infrastructure Partners.
Following completion of the transaction, Beatrice will represent approximately 12% of TRIG's investment portfolio.
Beatrice is a 588 megawatt offshore wind farm developed by SSE sing Siemens turbines.
The wind farm is located approximately 13km off the north east coast of Scotland and comprises 84 Siemens seven megawatt turbines which utilise direct drive technology.
The investment, which is subject to regulatory and lender consents which are expected to be received in the coming weeks, will be financed from a drawdown of the group's recently renewed revolving credit facility.
TRIG's co-shareholders will be SSE (40%), funds managed by Equitix Investment Management Limited (who are also acquiring a 17.5% stake from CIP and is partnered with TRIG on the Sheringham Shoal offshore wind farm), and Red Rock Power Limited (25%).
Story provided by StockMarketWire.com
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