2020 Success Stories

Green Investment Group is now one of the world’s largest renewable energy developers and investors – a mission-driven specialist business designed to accelerate the green transition. To date, GIG has arranged or committed more than £20bn to support green energy projects globally and has over 280 projects in development and construction. Our wind portfolio extends to having supported 3 GW of onshore wind globally, and almost half the offshore wind capacity in operation in the UK, the world’s largest offshore wind market.

As for all sectors, 2020 was a year of both opportunity and challenge in the European wind market. The COVID19 pandemic resulted in swift changes to operating practices to successfully and quickly continue business as usual; while thousands of energy professionals were designated key workers, reminding us of the importance of our sector and its contribution.

Green Investment Group was active across numerous markets and throughout the asset lifecycle – development, construction and operations – across the year.

In Norway, in April 2020, we announced financial close on both the Buheii (79.8 MW) and Tysvær (47 MW) onshore wind farms which, through a power purchase agreement, will jointly supply Eramet Norway’s Norwegian smelters with predictably priced power for 18 years. In May 2020, we were delighted to announce a development partnership with RIDG to bid into the ScotWind leasing round, and significant preparatory work continued throughout the year and into 2021.

In July 2020, together with our partner ScottishPower Renewables, we announced the major milestone of the 102nd and final turbine of East Anglia ONE being installed and operating. At over 700 MW, this project sustained more than 3,000 jobs in construction and also provided over £70million to suppliers across the East of England, delivering investment to local communities.

In November 2020, we announced the acquisition of the 25 MW Jozwin onshore wind farm in Poland, a country with one of the lowest shares of renewable energy in its electricity generation mix, despite being the largest electricity market in Central Eastern Europe. The Jozwin wind farm comprises of nine GE turbines and the project helps avoid 42kt CO2e in greenhouse gas emissions every year. Whilst this is a smaller transaction, the pace of transition in Poland will only increase with 52% of the country’s power generation expected to come from wind, solar and biomass by 2050.

Investing across the asset lifecycle is a feature of the flexible capital Green Investment Group can provide. 2021 is shaping up to be just as busy and we look forward with optimism to further innovation and success.