Macquarie’s Green Investment Group Limited (GIG) announced the acquisition of the 43 MW Hornamossen onshore wind farm located in Sweden’s Jönköping municipality. GIG will acquire 100 per cent of the project from Nordic wind power developer OX2, who have been developing the project since 2006. Consisting of 10 Siemens Gamesa 4.3 MW direct drive turbines, Hornamossen is expected to produce enough renewable electricity to displace an estimated 121 kt CO2e over its lifetime – the equivalent to removing approximately 1000 cars from the road every year of its operational life.
GIG structured and secured a long-term power purchase agreement (PPA) for the project with Swiss energy utility Axpo Nordic, part of the Swiss energy group Axpo. GIG has now sourced and structured PPAs for almost 1 GW of onshore wind capacity in Sweden, equivalent to over 10% of Sweden’s total onshore wind installed capacity.
This is GIG’s first partnership with OX2, an experienced developer in the Nordic region, who will continue to act as the project’s asset manager throughout construction and operations under a bespoke engineering, procurement and construction (EPC) contract. Construction is expected to commence in early July 2019 with commercial operations anticipated in Q4 2020.