Copenhagen Infrastructure Partners invests in the UK offshore wind project “Beatrice”
On behalf of its two funds, Copenhagen Infrastructure I and II, Copenhagen Infrastructure Partners acquires 25% of the UK offshore wind project Beatrice
The Beatrice project is located in Outer Moray Firth, Scotland and is one of five offshore wind projects in the UK awarded an Investment Contract by the UK government (fixed inflation indexed settlement price for a 15 year period). The project has been substantially developed by SSE plc (SSE) and Repsol S.A. (Repsol) and is progressing towards Final Investment Decision in 2016. The offshore wind farm is planned to be fully operational in 2019.
On behalf of its two funds, Copenhagen Infrastructure I and II, Copenhagen Infrastructure Partners (CIP) acquires 25% of the UK offshore wind project Beatrice from SSE. After the acquisition, Copenhagen Infrastructure I will own 12.5%, Copenhagen Infrastructure II 12.5%, SSE 50% and Repsol 25%.
“Beatrice is an attractive offshore wind project and it will complement our other infrastructure investments well. It is developed by strong and experienced industrial partners and we expect it to deliver stable inflation linked returns for many years”, says Christina G. Sørensen, Senior Partner in Copenhagen Infrastructure Partners.
For any further information, please contact:
Christine Ramskov Löwke, Office Manager, Copenhagen Infrastructure Partners, by phone: +45 70 70 51 51 or by e-mail: email@example.com.
Project webpage: http://sse.com/whatwedo/ourprojectsandassets/renewables/Beatrice/
Copenhagen Infrastructure Partners is a management company founded in 2012. CIP is owned and managed by the five Senior Partners, Jakob Baruël Poulsen, Rune Bro Róin, Torsten Lodberg Smed, Christian Skakkebæk and Christina Grumstrup Sørensen. The partners have extensive expertise within infrastructure investments and mergers & acquisitions. Copenhagen Infrastructure Partners was founded in October 2012 in connection with the establishment of the fund, Copenhagen Infrastructure I K/S. In addition to Copenhagen Infrastructure I K/S, CIP manages the fund CI Artemis K/S and the newly established fund Copenhagen Infrastructure II K/S. Copenhagen Infrastructure I and CI Artemis K/S have PensionDanmark as their sole investor while Copenhagen Infrastructure II K/S so far has eight Danish institutional investors: PensionDanmark, Lægernes Pensionskasse, PBU, JØP, DIP, Nordea, Nykredit and PFA. Copenhagen Infrastructure II K/S is open for commitments until the end of Q1 2015.
SSE is one of the UK’s largest generators of electricity with around 11,600 MW of generation capacity in total (UK and Ireland) from a diverse portfolio of power stations. It is the leading generator of electricity from renewable resources with a total generation capacity of around 3,300 MW. Through its renewable development division, SSE Renewables, it is involved in the development of new renewable energy projects covering wind, wave, tide, and hydro electricity. For further information, please visit: www.sse.com
Repsol is an integrated global energy company with presence in more than thirty countries, employing over 24,000 people. Repsol is present along the whole energy value chain, including exploration, production, refining, transportation, chemicals, retail sales and new types of energy. For further information, please visit: www.repsol.com