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Green Investment Group reports financial closure on Norwegian wind farm

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Macquarie’s Green Investment Group (GIG) has reported financial closure on Tysvaer wind farm, its second Norwegian onshore wind development to reach financial close.

The 47 MW onshore wind development located in the municipality of Tysvaer, southern Norway, will use 11 Siemens Gamesa turbines, generating 150 GWh of green energy annually.

“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.”

Edward Northam, head of Green Investment Group Europe.

Tysvaer wind farm will be the third GIG project currently under construction using Siemens Gamesa technology in the Nordics, totaling more than 325 MW.

In January, it was announced that the Tysvaer project would provide electricity to Eramet Norway, providing a reliable and long-term power supply for its smelters.

“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.”

Bjørn Kolbjørnsen, CEO Eramet Norway.

The company relies on long-term and reliable power conditions to ensure safe and productive operation at its processing plants in Porsgrunn, Sauda, and Kvinesdal with an electricity demand of more than 2 TWh annually.

Nordisk Vindkraft will act as construction manager, and RISA will be responsible for the construction of the roads, the turbine foundations and the installation of the electric cables.

When fully operational, Tysvaer wind farm will generate enough low-carbon electricity to power the equivalent of 8.803 Norwegian homes per year.

It will displace an additional 7.000 tons of CO2e emissions annually -helping Norway to become a low carbon society by 2050 and achieve emission neutrality by 2030.

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