When the blades start turning on the 650MW Markbygden project in northern Sweden next year, it will rightly be feted as Europe’s largest onshore wind farm to date. But it is the deal that has been done by US power giant GE, Macquarie-owned Green Investment Group (GIG) and Norwegian aluminium producer Norsk Hydro to bring the development into being that could have the deepest impact on the continent’s rapidly evolving renewables market.

Markbygden, sited on a swathe of forested land outside the town of Piteå, also represents the global wind sector’s biggest corporate power-purchase agreement (PPA).