Green Investment Group-GE to deliver 650MW of Swedish onshore wind

GE has partnered with the Green Investment Group to deliver and operate 650MW of onshore wind in Sweden. GE Renewable Energy will provide 179 of its turbines for the Markbygden […]

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By Priyanka Shrestha

GE has partnered with the Green Investment Group to deliver and operate 650MW of onshore wind in Sweden.

GE Renewable Energy will provide 179 of its turbines for the Markbygden ETT wind farm, with the blades equipped with an innovative ice mitigation system by LM Wind Power, ensuring a stable level of availability and reduced downtime.

GE is also providing a 20-year full service agreement.

The 50:50 equity partners raised around €800 million (£708m) in total financing for the project, which is expected to boost Sweden’s installed wind generation capacity by more than 12.5%.

Construction of the wind farm – currently the “largest single site onshore wind installation” to be delivered in Europe – is already underway and it is expected to be fully operational by the end of 2019.

The transaction is GIG’s – formerly known as the Green Investment Bank – first outside the UK and its first equity investment since it was bought by Macquarie earlier this year.