Galileo Green Energy has closed a long-term contract with an unnamed development partner to build wind farms in the UK and Sweden totalling 1500MW.
About 500MW of projects are located in the UK, with 1GW in Sweden, Galileo said.
The company has a further 400MW in the pipeline in Ireland, it added.
Galileo Green Energy was launched earlier this year by New Zealand asset manager Morrison & Co as an investment platform for renewable energy across Europe.
It has gathered financial support from four Australasian investors; two from Australia and two from New Zealand.
The Australian investors are the Commonwealth Superannuation Corporation (CSC), a pension fund serving the current and former employees of the Australian government and defence members, and Morrison & Co Growth Infrastructure Fund (MGIF).
The NZ investors are Infratil Limited, an infrastructure investment company listed on both the New Zealand and the Australian stock exchanges, which owns renewable energy, airport, data & connectivity and social infrastructure businesses and the New Zealand Superannuation Fund, a sovereign wealth fund established by the country’s government to help pre-fund the future cost of superannuation.
Galileo Green Energy has been provided an initial capital commitment of €220m, with Infratil contributing 40%, and CSC, NZ Super Fund and MGIF 20% each.
Galileo Green Energy chief executive Ingmar Wilhelm said: “GGE’s aim is to integrate competitive green energy and storage projects with adequate energy supply solutions, especially for end consumers.
“In the current growth period, we are exploring opportunities in up to 15 countries across Europe.
“A first level of performance of our GGE platform will be achieved with 300 to 500MW of competitive new renewable energy projects delivered per year.
“This will represent an annual investment volume of approximately €300m to €500m.
“With recent forecasts reaching as much as 500,000 MW of new renewable projects in Europe until 2030, there is plenty of room for sustainable growth.”