CIP swoops for UK offshore wind project
Danish group to acquire Morecambe project off northwest England
Danish renewables investor Copenhagen Infrastructure Partners (CIP) has agreed a deal to buy the Morecambe offshore wind project off northwest England.
CIP will acquire full control of the 480MW project from its current owners Cobra and Flotation Energy.
Financial terms were not disclosed and CIP said Flotation Energy will stay on as a development partner once the deal is completed.
The fixed-bottom project is in the same region of the Irish Sea as the Morgan and Mona wind farms being advanced by oil supermajor BP and its German partner EnBW.
The project is acquired on behalf of CIP’s Copenhagen Infrastructure V fund.
CIP said the acquisition of Morecambe gives it “a fixed bottom offshore wind project of excellent fundamental qualities, at an advanced stage of development, and well placed to contribute to the UK’s Clean Power 2030 Action Plan.
“Our acquisition of the Morecambe project demonstrates CIP’s confidence in the delivery of the UK Government’s ambitious 2030 offshore wind target, as enabled by its world leading CfD [contracts for difference] scheme, and key reforms aimed at speeding up planning and grid processes.”
CIP has a 25GW-plus UK pipeline spanning wind, solar and battery storage.
(Copyright)