Galileo Green Energy launches pipelines

Infratil Limited 5 Market Lane, PO Box 320, Wellington, New Zealand Tel +64-4-473 3663 www.infratil.com






20 November 2020


Galileo Green Energy launches pipelines in Ireland, UK and Sweden

Infratil advises that Galileo Green Energy (GGE) has announced that it has closed a long term
contract with a development partner from Northern Europe to develop a wind farm pipeline in the
UK of ~500 MW and another wind pipeline in Sweden of ~1,000 MW.

GGE has previously announced that it had secured a partnership with renewable energy
developer EMPower to jointly develop a ~300 MW (now ~400 MW) portfolio of greenfield wind
farm sites in Ireland.

A media release from GGE is attached.


Any enquiries should be directed to:

Mark Flesher, Investor Relations, Infratil Limited mark.flesher@infratil.com

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GALILEO GREEN ENERGY Management Services Srl | Bastioni di Porta Nuova 21, I-20121 Milan | VAT IT 11082940963 1

PRESS RELEASE

Galileo Green Energy launches pipelines in Ireland, UK and Sweden


MILAN, 19 NOVEMBER 2020. Galileo Green Energy (GGE), a multi-technology, renewable energy
developer and owner in Europe, has announced new investments with development partners in the UK and
Sweden, alongside its initial wind pipeline in Ireland.

GGE made these announcements at a strategy presentation held today in Milan and Paris, at which its
team delivered a virtual update on its early achievements.

GGE has been established to access the attractive European power market, underpinned by a
decarbonisation target of net zero emissions by 2050. GGE focuses on four key elements to achieve
success: competitive development of projects; sale of electricity to final consumers; energy management
and innovative financing solutions.

It has now closed a long-term contract with a development partner from Northern Europe to develop a wind
pipeline in the UK of about 500 MW, and another wind pipeline in Sweden of around 1,000 MW. Together
with a greenfield wind pipeline in Ireland of about 400 MW, GGE is well placed to extend its business across
the European region.

Other wind, solar and storage pipelines are planned for France, Germany, Italy, Poland and Spain.

Led by CEO Ingmar Wilhelm, GGE takes a long-term view on the energy market and has gathered financial
support from four major Australasian investors. Two are from Australia: 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), a vehicle managed by
Morrison & Co, established in 2018 to provide institutional investors with access to investments in unlisted
and sustainable infrastructure assets. Two further investors are from New Zealand: 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 (NZ Super Fund), a sovereign wealth fund established by the New
Zealand government to help pre-fund the future cost of superannuation.

GGE has been provided an initial capital commitment of €220 million, with Infratil contributing 40%, and
CSC, NZ Super Fund and MGIF contributing 20% each.

“GGE's aim is to integrate competitive green energy and storage projects with adequate energy supply
solutions, especially for end consumers”, explained Ingmar Wilhelm.

“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 500 MW of competitive new
renewable energy projects delivered per year. This will represent an annual investment volume of
approximately 300 to 500 million euros. 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.”