GIG Acquires Irish Offshore Wind Developer

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Macquarie’s Green Investment Group (GIG) has acquired Fuinneamh Sceirde Teoranta (FST), the developer of the Sceirde Rocks offshore wind farm, in Galway, Ireland. 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 will be part of the first wave of offshore wind projects in Ireland for delivery by 2030. It is GIG’s first offshore wind investment in the country.

Once completed, Sceirde Rocks will have the capacity to power up to 295,000 homes in the Connemara region and offset up to 457,000t of carbon emissions a year.

In addition to its environmental benefits, Sceirde Rocks offers a significant opportunity to kick-start the development of an offshore wind supply chain across Ireland’s west coast. GIG is committed to working with local suppliers wherever possible to support employment and investment opportunities across the region.

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“We are delighted to have attracted a developer of the quality of Green Investment Group to the Sceirde Rocks project. 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. Our team has been rooted in Connemara from day 1. We have had exceptional support from the local community, and from agencies such as Údarás na Gaeltachta, and look forward to continuing these relationships with GIG.” FST director Joe Lee said.

GIG, a leading renewable energy developer with a mission to accelerate the green transition, is currently developing 14 GW of offshore wind across the globe. Sceirde Rocks will be GIG’s first offshore wind investment in Ireland.

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