Macquarie’s Green Investment Group (GIG) entered into an agreement, subject to the satisfaction of customary completion conditions, to acquire a 40% stake in the East Anglia ONE (EA1) offshore wind farm from ScottishPower Renewables (UK) Limited, a subsidiary company of the Iberdrola group. GIG secured debt financing from the market to assist in funding its investment.
The acquisition reinforces GIG’s commitment to accelerating the UK’s energy transition and brings the total capacity of UK offshore wind supported by GIG to over 5.7 GW, across 14 projects – equivalent to almost 50% of the total UK offshore wind capacity in operations or construction.
EA1 is a 714 MW development located 43 KM off the UK’s Suffolk coast. The project will comprise 102 Siemens Gamesa 7 MW wind turbines, which when fully operational, will produce enough green electricity to power the equivalent of over 600,000 homes annually.