GIG Buys Swedish Offshore Wind Project
Macquarie’s Green Investment Group (GIG) has acquired the rights for the Kattegatt wind farm project offshore Sweden from Agrivind AB.
Situated off the coast of the Falkenberg municipality, the development stage project is anticipated to have an installed capacity of up to 260 MW. Once operational, it will produce enough electricity to power the equivalent of an estimated 95,000 homes, GIG said.
Sweden has a target to produce 100 per cent of its electricity from renewable energy by 2040. To help meet this target, significant growth in Sweden’s offshore wind capacity is predicted.
While the country’s current offshore wind operational capacity stands at just 191 MW, Svenska kraftnät has suggested it could reach 4 GW by 2035.
As one of only three consented projects, the Kattegatt wind farm project is playing a leading role in this fast-growing market, GIG said. Once operational, it is estimated the project will reduce Swedish carbon emissions by up to 49 kt CO2e emissions per annum.
Wind Sweden will continue to support GIG in the development of Kattegatt. Wind Sweden has supported Agrivind AB and worked closely with local stakeholders on the development of the project for over three years. GIG is committed to continuing this engagement with the local community and working with the local supply chain wherever possible to support employment and investment opportunities across Halland.
”The Kattegatt Wind Farm is set to be a key development for the Falkenberg municipality, and for Sweden’s burgeoning offshore wind sector,” Edward Northam, Head of GIG, UK and Europe, said.
”Offshore wind can help Sweden meet its climate goals and diversify its electricity supply, while supporting jobs and creating economic opportunities. We are delighted to be developing this exciting project and look forward to engaging with the local community on the next phase of the Kattegatt Wind Farm’s journey.”