External Company Press Release
The Board of TRIG is pleased to announce that the Company has exchanged contracts to acquire an equity interest of 17.5% in Beatrice offshore wind farm (the Project) from Copenhagen Infrastructure Partners (CIP). Beatrice is a 588MW offshore wind farm developed by SSE plc using Siemens turbines, has an established track record since operations commenced in 2018 and benefits from a Contract-for-Difference ( CfD ) subsidy. Following completion of the transaction, Beatrice will represent approximately 12% of TRIG s investment portfolio.
The wind farm is located approximately 13km off the north east coast of Scotland and comprises 84 Siemens 7MW turbines which utilise direct drive technology. The Project has a 15-year maintenance agreement in place with Siemens. The Project s CfD subsidy fixes the price received for all power generated until 2034, with indexation to inflation. Debt financing on the Project is fixed rate and fully amortising within the
External Company Press Release
The UK has the largest wind farm market, beating other world leaders such as Germany and China - so much so, that 20% of the UK s energy comes from wind turbines. However, there is currently an even bigger drive to increase wind energy use in Europe. With Boris Johnson s pledge to quadruple offshore wind power by 2030, to 40GW - enough to power every UK home - the drive for more renewable energy sources to power our everyday lives has never been stronger. But, powering a capital, such as London, is easier said than done, as it would need nearly 1,500 wing turbines according to new research from Uswitch.com, the comparison and switching service.
The South Coast Regional Development Programme is a collaboration between National Grid Electricity System Operator (ESO), National Grid Electricity Transmission (ET) and UK Power Networks. UK Power Networks is the first distribution network operator to use the system, which will be rolled out across other participating networks in 2021. For further information see the IDTechEx report on Distributed Generation: Off-Grid Zero-Emission kW-MW 2020-2040.
The South Coast has one of the most dynamic electricity networks in Europe, with significant amounts of renewable energy generation, a nuclear power station and interconnecting cables to Europe. This makes managing electricity flows a complex challenge for transmission and distribution companies. The new system will directly connect the local network operator s control room with the control room at the national system operator, giving them more visibility and control to keep the system balanced.