Macquarie’s Green Investment Group (GIG) has acquired Fuinneamh Sceirde Teoranta (FST), the developer of the Sceirde Rocks offshore wind farm, in Galway, Ireland.
The Sceirde Rocks is a proposed 400 MW offshore wind farm, capable of generating enough energy to power the equivalent of up to 295,000 homes.
The project has been designated as one of seven ‘Relevant Status’ developments by Ireland’s Department of Environment, Climate Action and Communications, placing the Sceirde Rocks to be in the first wave of offshore wind projects in Ireland for delivery by 2030.
“This project will be the largest ever infrastructure project in Connemara and will position Galway as a leader in Ireland’s new green energy economy. In order to achieve that, it was vital that we brought in the financial and technical capabilities that GIG can deliver,” said Joe Lee FST director.
GIG’s parent company, Macquarie, has been operating in Ireland for 17 years and is a substantial investor in infrastructure. GIG is currently developing 14 GW of offshore wind projects and Sceirde Rocks will be its first investment in Ireland.
Ireland has an objective of achieving 70% renewable energy by 2030. To achieve this, over 5 GW of offshore wind energy is expected to be developed by the end of the decade.