Green Investment Group Buys Marubeni Out of Westermost Rough
Green Investment Group Limited (GIG) has acquired a 25% interest in Westermost Rough offshore wind farm from Marubeni Corporation (Marubeni).
Green Investment Group, former Green Investment Bank and now the specialist green energy principal investment business of Macquarie Group Limited, is a member of a consortium with Macquarie European Infrastructure Fund 5 (MEIF5) and the Universities Superannuation Scheme (USS) that already owns a 25% stake in Westermost Rough. The remaining 50% interest in the project is held by Ørsted, the operator of the wind farm.
Located 8km off the Holderness coast in the United Kingdom, the 210MW wind farm comprises 35 Siemens Gamesa Renewable Energy 6MW direct-drive turbines and has been in commercial operation since June 2015.
Westermost Rough represented the first commercial deployment of the 6MW turbine anywhere in the world and was GIG’s and Marubeni’s first investment in a UK offshore wind project at the construction stage.
Edward Northam, Head of GIG in Europe, said: ”Westermost Rough is a landmark project in the evolution of the offshore wind industry, both in the UK and internationally. The technical and financial innovations deployed during the development, construction and operation of the wind farm have helped improve performance levels and reduce the cost of wind power generation, making it significantly more cost competitive. We are extremely proud of this pioneering green investment.”