Danish green energy giant, European Energy, and leading Scottish renewables company, Locogen, have signed a deal to enter into a joint venture partnership to fund and develop a large Scottish onshore wind pipeline.
European Energy operates in 11 countries across the world and constructs wind and solar farms. The Copenhagen based firm has delivered 1,153MW of wind and 510MW of solar projects since being founded in 2004 and has invested some €2.3 billion in their renewable energy portfolio.
Locogen, meanwhile, has provided development technical support for developers, buyers, lenders and borrowers for over 500MW of wind energy projects, largely in Scotland, since formation in 2009.
The new partnership will combine the extensive experience and resources of European Energy with the local expertise of Locogen to create a powerful new force in the Scottish onshore wind sector, where the team look to develop a minimum of 800MW of wind projects in the next 5 years. Once developed these wind farms will generate enough electricity to power 500,000 homes.
Daniel Badcock, Managing Director of European Energy Development Limited, said: “Scotland is an excellent location to base our rapidly growing UK subsidiary and we wholeheartedly believe in the future of onshore wind in Scotland. We are proud to be supporting Scottish employment and the green industry with Locogen, in whom we have found a long-term, strong development partner. We look forward to delivering hundreds of megawatts of subsidy-free onshore wind projects in Scotland together over the coming years.”
Andrew Lyle, Chief Executive of Locogen, said: “Locogen is delighted to be working in partnership with European Energy to grow our Scottish development pipeline. In European Energy we have found a partner who shares our belief in the long-term value of onshore wind electricity generation in Scotland, developed responsibly with communities and our environment at heart.”