Green Investment Group (GIG), subsidiary of Macquarie Group, has completed the acquisition of the 79.8MW Buheii wind farm from Global independent renewable energy company, RES.
The financial details of the transaction have not been disclosed.
Located in Kvinesdal, southern Norway, the wind farm will would supply electricity to Eramet Norway until 2038 under a long-term power purchase agreements (PPAs) signed by GIG and Eramet Norway in January.
GIG Europe head Edward Northam said: “The rapid electrification of Norway’s economy is driving significant growth in demand for affordable power, particularly in the energy-intensive industrial sector and companies like Eramet Norway.
“We are delighted to be playing a role in ensuring that this demand is met by renewable sources, with our growing portfolio of Norwegian wind projects.”
The Buheii wind farm will be equipped with 19 Vestas V150 wind turbines
RES will provide construction management and asset management services for the wind farm.
The wind farm will be equipped with 19 Vestas V150 wind turbines, which will generate low-carbon electricity while offseting 15,000 tonnes of CO2 emissions per year.
RES Nordics CEO Matilda Afzelius said: “RES has a strong international relationship with Macquarie’s Green Investment Group that is now materialising in the Nordics.
“We look forward to expanding our partnership through the construction and asset management of this project and forthcoming opportunities.”
RES has selected two Nordic companies to complete the main civil and overhead lines works that include a Norway construction contractor, Risa.
Under the contract, Risa will be responsible for the groundwork activities related to the project.
Construction activities on the wind project are expected to create 80 to 100 jobs.
