Green Investment Group Announces Record Capital Deployment in its Third annual Progress Report

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  • Committed or arranged over £2.9 billion across a global portfolio of 250 projects, taking the cumulative capital invested or arranged by GIG over three years to £6.9 billion;
  • Made new investments: in solar in the UK and the US; in energy-from-waste in the UK; in onshore wind in Poland and the Nordics; and in offshore wind in Taiwan and Korea;
  • Signed a record 14 new power purchase agreements for 1.3 GW of renewable energy capacity; and
  • Invested in new projects which are projected to meet the equivalent electricity needs of nearly one million homes1.

Along with its operating platforms, GIG has investments or operations in over 25 markets, a team of more than 450 experts and a global development pipeline of more than 25 GW.

The Year in Review
2020 has reinforced the true globalisation of the GIG platform. Highlights for the period include:

  • Establishment of a joint venture with Enso Energy to create one of the UK’s largest subsidy-free solar and battery storage portfolios. The pipeline under development represents an initial 1 GW of capacity.
  • The inauguration of Formosa 1, Taiwan’s first commercial scale offshore wind farm, and financial close of the 376 MW Formosa 2 development. Once constructed, the Formosa portfolio will produce enough low-carbon electricity to power the equivalent of more than 2 million Taiwanese households.
  • Partnering with global energy leader, Total, to co-develop a 2.3 GW portfolio of 5 floating offshore wind projects in Korea. Construction for the first 500 MW phase of the partners Ulsan project is due to begin by the end of 2023.
  • Acquisition of the Zajączkowo Wind Farm, GIG’s second Polish asset, and execution of its first virtual PPA with leading lighting company, Signify.
  • Completion of the acquisition of Savion, expanding GIG’s US solar development pipeline to over 10 GW.
  • Reaching financial close and starting construction on the Murra Warra II onshore wind farm in Victoria, Australia.
  • More recently, partnering with Iberdrola to co-develop a 3.3 GW offshore wind portfolio in Japan.

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