( 17 July 2018) CGN Europe Energy has acquired a 75 percent stake in the Swedish North Pole wind project from Australia’s Macquarie Group and GE Energy Financial Services.
The North Pole wind power project, located in Pitea, Sweden, is expected to be operational by the end of 2019 with a capacity of 650MW.Featuring the largest on-shore wind farm in Europe, the project can power 400,000 households and reduce carbon dioxide emissions by 750,000 tons per year.179 GE turbines will installed at the project.
It is a key strategy of CGNEE to expand the European renewable energy market. Since its establishment four years ago, CGNEE has owned nearly 1GW of wind power and solar energy assets through acquisitions and independent development in five countries in Europe including the United Kingdom, France, Belgium, Ireland and the Netherlands. With the acquisition of this Swedish project, CGNEE successfully enters the Nordic market and its renewable assets both in operation and under construction reach nearly 1.6GW, which has far-reaching significance for its further development in the European market.