GIG and RIDG partner for ScotWind leasing round

In: Windfarms
Macquarie’s Green Investment Group (GIG) and Renewable Infrastructure Development Group (RIDG) have partnered to compete in ScotWind, the next round of seabed leasing for offshore wind development off the Scottish coast.

ScotWind is due to be launched by the Crown Estate Scotland shortly. It will be the first offshore wind leasing round in Scotland for a decade, and the first by Crown Estate Scotland.

GIG is a global investor and developer of green infrastructure assets with a mission to accelerate the green transition. GIG has supported 16 offshore wind projects, representing over 4.5 GW of operating capacity to date. Most recently, GIG acquired a 40 per cent stake in the 102 turbine
East Anglia ONE offshore wind project, which has committed around £70 million to suppliers across the East of England, delivering jobs and investment to local communities.

Elsewhere, GIG is developing up to 1.5 GW of floating offshore wind at Ulsan, South Korea, whilst in Taiwan, GIG is developing and constructing 2.4 GW of offshore wind across the
Formosa 1, 2 and 3 projects.

Established three years ago, RIDG has entered the offshore wind market to identify and develop large-scale projects with an aim to create opportunities for the Scottish supply chain and the economy. In January RIDG announced its intention to enter the ScotWind process and to work collaboratively with the Scottish supply chain through the deployment of its alignment model.

Ed Northam, Head of GIG Europe, said: "GIG is proud of its Scottish heritage and I’m delighted that RIDG and GIG are working from our home in Edinburgh to unlock Scotland’s fantastic offshore wind resource.

“By partnering right at the genesis of development, we’re making our earliest commitment in UK offshore wind so far. Our flexible approach to investment is perfectly complemented by our partnership with RIDG, who bring with them a fantastic team to supplement our own development expertise.”

Mike Hay, Commercial Director at RIDG, said: "We’re delighted to be partnering with GIG on ScotWind. RIDG’s local development experience perfectly complements GIG’s global reach and ambition. This partnership is already proving to be a fast, flexible and responsive approach to development that will be vital if Scotland is to unlock its industrial potential.

“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.”

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