Investment firm pushes into offshore wind sector

Trig, the London-listed investment company, has made its first investment in offshore wind, taking a stake in a major project in the North Sea off the coast of Norfolk.

The company – whose full name is The Renewables Infrastructure Group – has acquired a 14.7 per cent indirect equity interest in the Sheringham Shoal offshore wind farm for £80 million.

The investment is being made through a new joint venture holding company alongside funds managed by Equitix. The other equity partners in the project comprise Statoil ASA and Green Investment Group, managed by Macquarie Group.

Sheringhamshoalhasan established operating history following its commissioning in 2012 and comprises 88 turbines. It has long-term power purchase agreements in place.

Trig chair Helen Mahy said: “The board is delighted to conclude the company’s first investment in offshore wind, an industry in which the UK has built a leading global market share.”