TRIG Sells 15.2% Stake in Gode Wind 1 Offshore Wind Farm for EUR 100 Million

Credit: Dong Energy

The Renewables Group Ltd (TRIG) has agreed to sell a 15.2% equity interest in the 330-MW Gode Wind 1 offshore wind farm in Germany to infrastructure investor for EUR 100 million (USD 108.2 million).

Gode Wind 1, which features 55 turbines, is located in the , approximately 45 kilometers off the German coast. The project is part of a larger multi-farm development that includes Gode Wind 1, 2, and 3, with a combined capacity of 900 MW upon completion. Gode Wind 1 began commercial operations in February 2017, and started generating power in May.

Following the transaction, TRIG will retain a 9.8% stake in Gode Wind 1. The company, which acquired its interest in the project in 2019, noted that the sale was executed at a 9% premium relative to the asset's valuation at the end of 2023.

The other stakeholders in the wind farm include Danish energy group Ørsted A/S and Nuveen's Glennmont Partners.

Equitix stated that the of Gode Wind 1 represents its thirteenth offshore wind farm investment in Europe. This deal aligns with its strategy for growth in the European offshore wind sector and broader expansion into the industry.

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