Macquarie’s Green Investment Group (GIG) and Scottish offshore wind developer Renewable Infrastructure Development Group (RIDG) will partner to compete in ScotWind – the next round of seabed leasing for the offshore wind development off the Scottish coast, due to be launched by Crown Estate Scotland.
GIG has supported 16 offshore wind projects representing over 4.5 GW of operating capacity to date. Most recently, GIG acquired a 40 per cent stake in the 102 turbine East Anglia ONE (EA1) offshore wind project.
Elsewhere, GIG is developing up to 1.5 GW of floating offshore wind at Ulsan, South Korea, whilst in Taiwan, GIG is developing and constructing 2.4 GW of offshore wind across the Formosa 1, 2 and 3 projects.
Established three years ago, RIDG has entered the offshore wind market specifically to identify and develop large-scale projects that will create significant opportunities for the Scottish supply chain and the economy. In January RIDG announced its intention to enter the ScotWind process and to work collaboratively with the Scottish supply chain through the deployment of its alignment model.
Ed Northam, Head of GIG Europe, said “By partnering right at the genesis of development, we’re making our earliest commitment in UK offshore wind so far. Our flexible approach to investment is perfectly complemented by our partnership with RIDG, who bring with them a fantastic team to supplement our own development expertise.”
Mike Hay, Commercial Director at RIDG, said “Together, we are answering the Scottish Government’s call for new companies to enter the offshore wind market – bringing new ways of structuring and developing projects, which boosts competition, drives innovation and unlocks new sources of investment.”