Secondary market activity in European infrastructure continues at a steady pace, with specialist British infra investor Equitix acquiring a 15.2% equity stake in the 330-megawatt Gode Wind 1 offshore wind farm in Germany.

This is Equitix’s 13th offshore wind farm acquisition in Europe. The company says the investment is aligned with its growth plans on the continent, and wider expansion into the offshore wind sector.

It paid €100 million (US$108.2 million) for the equity interest, and was advised on the deal by Orrick.

Gode Wind 1 is located in the German sector of the North Sea, 45 kilometres from the coast. It comprises 55 turbines with a total installed capacity of 330MW. It began operation in 2017.

The seller was The Renewables Infrastructure Group (TRIG), a large UK investment trust dedicated to renewable energy and listed on the London Stock Exchange. It will continue to hold a 9.8% stake in the project.  The other owners are Danish renewables group Orsted and renewable energy investor Glennmont Partners, which was acquired by asset manager Nuveen in 2021.

Gode Wind 1 is part of a development made up of Gode Wind 1, 2 and 3 projects, Gode Wind 3 came online in May, bringing the total capacity to 900MW.