The Renewables Infrastructure 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 Equitix for EUR 100 million (USD 108.2 million).
Gode Wind 1, which features 55 turbines, is located in the North Sea, 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 Gode Wind 3 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 acquisition 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.
