Sumitomo Corporation has signed a contract to invest alongside Macquarie Capital in Galloper Offshore Wind Farm (Galloper). Sumitomo will indirectly take a 12.5% stake in the project with the transaction due to complete in the coming months.
The total cost of the Galloper project is approximately GBP1,500 million. The equity sponsors of Galloper, RWE Innogy UK, Siemens Financial Services, UK Green Investment Bank plc and Macquarie Capital, achieved financial close in October 2015. The 336MW wind farm comprises of 56 wind turbines manufactured by the Siemens and is located in the North Sea, 27 kilometres off the coast of Suffolk, UK.
