Source Galileo sells Norway unit to Unitech

Source Galileo has sold its Norwegian subsidiary, Source Galileo Norge AS, to Unitech Energy Group. The acquired company will be renamed Nordrenergi AS and will be based in Haugesund, Norway. Nordrenergi will integrate the renewable resources and expertise of Source Galileo Norge AS with the complementary capabilities of Unitech Energy Group. The transaction involves relocating Unitech Energy Group's energy business from Bergen to Haugesund. Nordrenergi will focus on the development, ownership, and operation of advanced energy technologies, including Battery Energy Storage System projects, high-voltage technology, and the ownership and operation of Zephyros and Stord Energy Terminal. The team will also continue supporting the GoliatVind project.

Counterparts (2)

Seller

Source Galileo

company

London-based infrastructure investment manager focused on renewable energy and energy transition assets. Manages $2.5B in assets across 18 operating projects totaling 1.8 GW, primarily in offshore wind with expanding presence in battery storage and solar PV.

Buyer

U

Unitech Energy Group

company

Bethesda-based aerospace and defense giant with 115,000 employees, specializing in advanced military aircraft, space systems, and defense technologies. Operates globally with major programs like the F-35 fighter jet and Orion spacecraft.