Macquarie's GIG expands in Poland with 48-MW wind purchase

Source: Twitter, @Vestas

November 12 (Renewables Now) - Green Investment Group Ltd (GIG), owned by Macquarie Group Ltd (ASX:MQG), has acquired a 48-MW wind park in Poland, which it says is “a new market with strong fundamentals and significant growth potential for renewables.”

The asset, called the Zajaczkowo wind farm, was purchased from J-Power Investment Netherlands BV and Mitsui Renewable Energy Europe Ltd, GIG said on Monday without providing financial details. The power plant near the city of Slupsk, in northern Poland’s Pomeranian Voivodeship, has been generating power since September 2008. The output of its 24 Vestas V80 turbines is enough to meet the demand of 38,367 homes per year.

The deal is GIG’s second investment in Poland’s renewable energy market after the acquisition of the 42-MW Kisielice wind farm in August. 

“Poland is one of Europe’s largest energy markets and one with considerable near term potential for renewables development. As such, as we build our global footprint, it is critical for GIG to seek out opportunities in this region,” said Edward Northam, head of GIG Europe.

This summer, the Polish government approved a revision of the Renewables Act that enables the auctioning of 2.5 GW of onshore wind power capacity later this year.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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