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Evening Standard
Evening Standard
Business
Oscar Williams-Grut

Investors snap up stake in world’s largest offshore wind farm as IEA warns of looming oil ‘crisis’

IEA Yorkshire Russia United States

The Hornsea One wind farm project off the Yorkshire coast

(Picture: Hornsea One project)

Investors have snapped up a stake in the world’s biggest offshore wind farm near Yorkshire amid a race by the West to shift away from reliance on Russian oil and gas.

FTSE 250-listed investment trust The Renewables Infrastructure Group (TRIG) has bought 7.8% of the 407sq km Hornsea One field, 120km off the Yorkshire coast. The project, which started operating in 2020, generates enough clean power to 1 million homes. The stake is understood to be worth around £240 million.

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