CIP project wins first large scale offshore wind tender in the US

On May 23, 2018 it was announced that Vineyard Wind’s proposed 800 megawatt (MW) offshore wind farm located 15 miles south of Martha’s Vineyard will advance as the winner of the Massachusetts tender for offshore wind energy projects. This means that the Massachusetts Electric Distribution Companies (EDCs) will now start negotiating contracts including a power purchase agreement (PPA) with Vineyard Wind.

Vineyard Wind is jointly owned by funds managed by the Copenhagen Infrastructure Partners (50%) and Avangrid/Iberdrola (50%) and seeks to build the first large-scale offshore wind farm in the United States starting operations by late 2021.

“The Vineyard Wind team is honored to be chosen to provide clean wind energy for communities across Massachusetts, and CIP is committed to continue to move forward with our plan to make Vineyard Wind the first operational large-scale offshore wind project in the United States,” said Torsten Lodberg Smed, Senior Partner with Copenhagen Infrastructure Partners. “For CIP, the selection of Vineyard Wind as the preferred solution in the Massachusetts is a significant outcome and an important milestone in our efforts to take a key role in the build out of off shore wind in North America.”

On April 30, 2018, CIP’s portfolio of Taiwanese offshore wind development projects was allocated 600 MW for the projects Changfang and Xidao by the Bureau of Energy, as well as 300 MW for Site 29, which CIP will develop with its partners China Steel Corporation and DGA.

“With the 800 MW outcome of the Massachusetts tender for offshore wind and the recent 900 MW allocation in Taiwan, CIP has become one of the leading offshore wind developers and investors globally, and together with our partners we are pleased to be spearheading the offshore wind industry in the fast-growing Asia-Pacific and North American markets to the benefit of the local communities, our investors, and the environment”, said Michael Hannibal, Partner with CIP.

The 800 MW offshore wind park in Massachusetts will, when operational, provide clean energy and reduce Massachusetts’ carbon emissions by over 1.6 million tons per year.

For any further information relating to Copenhagen Infrastructure Partners, please contact: Kristina Negendahl Jessen Copenhagen Infrastructure Partners Phone: +45 70 70 51 51 Email: cip@cip.dk

  

About Vineyard Wind

Vineyard Wind LLC is an offshore wind development company seeking to build the first large-scale offshore wind energy project in the US, to be located 15 miles south of Martha’s Vineyard. Vineyard Wind, based in New Bedford, Massachusetts, is 50 percent owned by funds of Copenhagen Infrastructure Partners (CIP) and 50 percent by Avangrid Renewables. For more information, visit www.vineyardwind.com.

About Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners P/S (CIP) is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, and other energy assets like reserve capacity and storage. CIP has approximately 110 employees and offices in Copenhagen, Taipei, New York, Tokyo, Utrecht, and London.

CIP manages six funds and has more than EUR 8 bn under management. CI I, CI A I and CI A II have PensionDanmark as founding- and sole investor. CI II has 19 Danish and international institutional investors and CI III has 42 institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and multi-lateral organizations e.g. EIB. CI NMF I has 15 investors from the Nordics and Continental Europe.

CIP was founded in 2012 by senior executives from the energy industry in cooperation with Pension Denmark.