TRIG, Equitix to buy CIP’s stake in 588MW Scottish offshore wind – IPE Real Assets

Copenhagen Infrastructure Partners (CIP) is selling its 35% stake in Beatrice offshore wind farm in the UK to The Renewables Infrastructure Group (TRIG) and funds managed by Equitix Investment Management.

TRIG said it has agreed to buy a 17.5% stake in the 588MW offshore wind farm located 13km off the northeast coast of Scotland from CIP, adding that Equitix will also acquire a 17.5% stake.Financial details were undisclosed.

The wind farm comprises 84 Siemens 7MW turbines and has a 15-year maintenance agreement in place with Siemens.

Following the Equitix and TRIGs acquisitions, and subject to approvals, the pair will join shareholders SSE and Red Rock Power who hold 40% and 25% stakes respectively.

Richard Crawford of InfraRed Capital Partners, TRIGs manager, said: 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 Companys third investment in a UK offshore wind farm and its 5th in the offshore wind sector.

Following completion of the transaction, Beatrice will represent approximately 12% of TRIGs investment portfolio.

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TRIG, Equitix to buy CIP's stake in 588MW Scottish offshore wind - IPE Real Assets