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
The Beatrice offshore wind farm Picture: SSE By Ian McConnell A 17.5 per cent stake in the Beatrice offshore wind farm, developed by Perth-based energy giant SSE, is being bought by The Renewables Infrastructure Group, which highlighted the part such projects could play in the UK’s decarbonisation drive. The equity interest in Beatrice, around 13 kilometres off Scotland’s north-east coast, is being acquired from Copenhagen Infrastructure Partners (CIP). The Renewables Infrastructure Group (TRIG) said the 588-megawatt project had “an established track record since operations commenced in 2018 and benefits from a contract-for-difference subsidy”. It noted that, after the transaction was completed, Beatrice would represent about 12% of its investment portfolio.
Copenhagen Infrastructure Partners (CIP) is selling its stake in the 588MW Beatrice offshore wind farm off the coast of Scotland to The Renewables Infrastructure Group (TRIG) and funds managed by Equitix Investment Management.
TRIG said that it has exchanged contracts to acquire an equity stake of 17.5% in the wind farm, which represents approximately 12% of the company s investment portfolio.
The investment, which is subject to regulatory and lender consents that are expected to be received in the coming weeks, will be financed from a drawdown of the group s recently renewed revolving credit facility.
Equitix is also taking a 17.5% stake from CIP.
January 15, 2021, by Adnan Durakovic
The VindØ consortium has revealed its vision of the world’s first energy island.
The VindØ consortium comprises two of Denmark’s largest pension funds, PensionDanmark and PFA, and Denmark’s largest utility company, Andel.
Source: VindØ/YouTube
The artificial island, made of submersible concrete boxes, is to be built in the Danish part of the North Sea, around 100 kilometres from land.
The island is to be established by 2030, at the latest, and connect 3 GW of offshore wind.
Over time, the island will connect 10 GW offshore wind and host energy storage and Power-to-X as well as accommodation, O&M facilities, and HVDC converters for transmission and interconnectors.