StockMarketWire.com - Renewables Infrastructure Group said it had agreed to acquire a 25% stake in the 330 megawatt Gode 1 offshore wind farm in the German North Sea, for an undisclosed sum.

The project, completed in 2017, was developed and constructed by Denmark's Orsted, who would continue to own 50% of its equity.

The investment was being acquired from Global Infrastructure Partners as part of their divestment of their 50% stake in the underlying project.

Gode 1 features 55 Siemens Gamesa 6MW turbines and is supported by a feed-in-tariff until November 2027, followed by a floor price for a further 10 years.

Renewables Infrastructure Group said its investment would financed from a combination of the proceeds of a recent fund raise and a drawdown of the its revolving acquisition facility.

At 9:41am: [LON:TRIG] The Renewables Infrastructure Group Ltd share price was -0.3p at 125.5p



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