United Kingdom

United Kingdom

Macquarie’s GIG to bid in Scottish tender

The Green Investment Group (GIG) will bid into the next leasing round in Scottish waters in partnership with another UK-based wind developer.

There is over 900MW of operating offshore wind capacity in Scotland's waters (pic: Vattenfall)
There is over 900MW of operating offshore wind capacity in Scotland's waters (pic: Vattenfall)

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Macquarie's clean energy investment unit has joined forces with Renewable Infrastructure Development Group (RIDG) to bid into the ScotWind leasing round, to be offered by the Crown Estate Scotland (CES) in the summer.

CES is still awaiting clarification from the Scottish government on its sectoral marine plan for offshore wind before publishing relevant documents and setting a closing date for applications.

The tender could see areas capable of supporting 10GW of offshore wind capacity leased off Scotland's north and east coasts.

GIG has extensive experience in the UK offshore wind space. It was initially set up by the UK government as the Green Investment Bank to support getting new private equity into renewables.

It was acquired by Australian investor Macquarie in 2017 and has since expanded its portfolio of renewable energy projects to other European markets and Asia Pacific.

The RIDG management team brings together more than 40 years of offshore wind project, technical, and industrial development experience, GIG explained.

"Together, we are answering the Scottish government's call for new companies to enter the offshore wind market – bringing new ways of structuring and developing projects, which boosts competition, drives innovation and unlocks new sources of investment," said Mike Hay, commercial director at RIDG.

Scotland has nearly 900MW of operating offshore wind capacity, including the 30MW Hywind Scotland floating offshore wind project. Floating wind is expected to feature in the ScotWind lease.

There is also currently 2GW of capacity in progress in Scottish waters, according to Windpower Intelligence, the research arm of Windpower Monthly.

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