GIG buys 235-MW wind project in Sweden

Wind farm in Sweden. Author: Jämtkraft. License: Creative Commons, Attribution 2.0 Generic.

July 19 (Renewables Now) - Green Investment Group Ltd (GIG) announced on Thursday it has acquired a roughly 235-MW wind project in Overturingen, Sweden, from forest products company SCA (CPH:SCA-B) and Turinge Energi AB.

SCA said in a statement that Siemens Gamesa Renewable Energy SA (BME:SGRE) will supply the 56 units of 4.2-MW turbines for the project, which consists of the Storflotten and Lansterhojden schemes in the municipality of Ange. The two wind parks will be installed on land owned by SCA, Sveaskog and private forest owners.

The plants are expected to be completed by late 2019 or early 2020.

Also in Sweden, GIG, the former UK Green Investment Bank, now part of Macquarie Group Ltd (ASX:MQG), supported the development of the huge Markbygden wind project outside of Pitea, which is considered to be Europe's largest single-site onshore wind farm.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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