Green Investment Group acquires Norwegian onshore wind development project

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• Macquarie’s Green Investment Group (GIG) acquires the Tysvær Wind Farm in Norway.
• Tysvær is GIG’s first development in Norway, further expanding GIG’s growing presence in the Nordic region.
• The 47 MW project is being developed directly by GIG and is expected to start construction in early 2020.

Macquarie’s Green Investment Group announces the acquisition of the Tysvær Wind Farm from Spanish Power. The 47 MW onshore wind development is located in the Tysvær municipality, within Rogaland Fylke, southern Norway. The project is GIG’s first in Norway and further expands GIG’s presence in the Nordic region following its acquisitions of Markbygden, Overturingen and Hornamossen onshore wind farms in Sweden.

Tysvær is one of a growing number of renewable energy projects being developed in-house by GIG. The project is in the final stages of planning and is currently under consideration by the Norwegian Water Resources and Energy Directorate (the NVE). Outline planning consent was received in July 2018, and amended layouts are expected to be finalised in October 2019.

The proposed development will consist of 11 Siemens Gamesa 4.3 MW turbines. GIG is using a number of Norwegian supply chain companies to deliver this important project, bringing new investment into the region and supporting high-value jobs throughout the project’s construction and operations. Nordisk Vindkraft will act as construction manager and RISA AS will be responsible for building the roads, turbine foundations and installing the electric cables.

When fully operational, the wind farm will produce enough low-carbon electricity to power the equivalent of 8,750 Norwegian homes every year. Annually, it will displace an estimated 8,000 tonnes CO2e emissions - the equivalent of removing 2,500 cars from the road - supporting Norway in its goal of becoming a ‘low carbon society’ by 2050 and achieving ‘emissions neutrality’ by 2030.

"Norway is blessed with some of the best renewable resources in Europe which have already enabled the country to deliver a virtually zero-carbon electricity system. But the ambition doesn’t end there. Norway’s goal of achieving emissions neutrality is one of the most impressive low-carbon visions anywhere in the world and I’m delighted that GIG is able to help drive Norway’s green shift."

Edward Northam
Head of Green Investment Group Europe

For more information, please see Tysvær Wind Farm.