JV eyes 10GW EU renewables potential
A renewables joint venture between Empower Renewables and Galileo Green Energy is targeting an overall development pipeline of 10GW across six markets in Northern Europe.
With a plan to invest up to €170m between now and 2030 for the development phase of its utility scale portfolio of onshore wind, solar and storage projects, Galileo Empower has already secured an expansive pipeline exceeding 6GW, with 3.2GW of this advancing through the permitting phase.
The joint venture received its first building permit in 2023 and will see its first projects entering construction in 2025.
Galileo and Empower joined forces in 2020 to set up Galileo Empower with a mission to acquire, develop, construct and operate a diversified portfolio of predominantly onshore wind projects across Northern Europe.
Since inception, the partnership has successfully expanded its development footprint to six key markets, developing projects in Germany, Finland, Ireland, Scotland, Sweden, and Wales.
On the technology front, the joint venture has started to address hybrid projects where all three onshore technologies, wind, solar and storage, will be developed together in the most suitable configurations.
Diarmuid Twomey, CEO of Galileo Empower, said:
We have created a platform of significant scale through this exciting partnership with Galileo, which will enable us to make a deeply impactful contribution to transitioning energy systems across Northern Europe.
We believe our focus on quality, longevity, diversity and accelerated scalability puts us in the strongest possible position to shape a sustainable energy landscape that benefits energy consumers, communities and society as a whole.
We look forward to realising our ambitions as quickly as possible and then building on them further, which is what is ultimately required to meet climate goals across Europe.
https://renews.biz/90108/jv-eyes-10gw-eu-renewables-potential/
