Powered by 11 of Siemens Gamesa’s turbines, the energy produced by the wind farm will be supplied to the Norwegian subsidiary of French metal processor Eramet

Green Investment Group

GIG reaches financial close on Norwegian wind farm. (Credit: Green Investment Group.)

Macquarie’s Green Investment Group (GIG) announced financial closure on its 47MW Tysvaer wind farm to be located in Tysvaer municipality, within Rogaland Fylke, southern Norway.

The wind farm will be powered by 11 of Siemens Gamesa’s 4.3MW wind turbines, generating 150GWh of clean energy annually.

It is GIG’s second wind farm to reach financial close this month and is also its third project to use Siemens Gamesa’s turbines currently under construction in the Nordics, totaling more than 325MW.

The Tysvaer wind farm is part of GIG’s portfolio of three Nordic wind projects, with others being the Buheii windfarm in Norway and the Hornamossen windfarm in Sweden.

The Tysvaer wind project will support local investment and create 200 jobs during construction

Green Investment Group Europe Head Edward Northam said: “This is our second financial close on a Norwegian project this month, showing our continued commitment to accelerating the transition to a greener global economy.

“Our Norwegian projects will provide up to 200 jobs over the next year and demonstrate the role that renewable energy projects can play in supporting rural economies – providing construction jobs as well as affordable power for energy-intensive businesses.”

Announced this January, the power generated from the Tysvaer wind farm will be supplied to Eramet Norway, ensuring a stable and long-term power supply to Eramet Norway’s Norwegian smelters.

The power purchase agreement (PPA) between GIG and Eramet Norway is guaranteed under the Power Purchase Guarantee Scheme administered by The Norwegian Export Credit Guarantee Agency (GIEK).

Eramet Norway CEO Bjørn Kolbjørnsen said: “With our ambitions for industrial development and increased value creation in Norway, we need access to renewable energy. The agreement with GIG is therefore a valuable diversification of our portfolio of power contracts and a key contribution to Eramet sustainable development roadmap.”

GIG further stated that the Tysvaer wind farm will support the regional supply chain companies by bringing new investment in the region and creating 200 temporary jobs during the wind farm’s construction phase.

Last August, GIG acquired the Tysvaer project from Spanish Power.