GIG teams up with Vårgrønn and Agder Energi for Norwegian wind project

Macquarie’s Green Investment Group (GIG) has joined forces with Vårgrønn and Agder Energi to form a consortium that will bid for a site in the Norwegian Sørlige Nordsjø II area, comprising up to 3 GW of new offshore wind capacity.

Vårgrønn, backed by Italy’s Eni and Norway’s HitecVision and Agder Energi will each own 37.5% and Green Investment Group will own 25% of the consortium. Vårgrønn will be the project manager.

“Green Investment Group brings extensive experience from development and management of offshore wind farms across the world. Their successful bid to develop a 1.5 GW offshore wind project in the highly competitive Crown Estate’s Offshore Wind Leasing Round 4 in the UK earlier this year confirms that GIG adds the experience, capacity and capabilities needed for our consortium to secure licenses in Norway,” said Vårgrønn CEO Olav Hetland.

The Sørlige Nordsjø II zone is one of two areas opened to licensing for offshore wind development by the Norwegian government. Norway is seen as the next potential offshore wind superpower as it has the acreage, wind resources and supply chain needed to scale up marine renewables.

Vårgrønn has also teamed up with Norwegian energy giant Equinor to jointly apply for offshore wind acreage to develop floating offshore wind at Utsira Nord in the Norwegian North Sea.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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