Bute Energy (Bute) and Copenhagen Infrastructure Partners (CIP), on behalf of its fund Copenhagen Infrastructure IV K/S (CI IV), are pleased to announce a partnership which will see CI IV invest in Bute’s portfolio of onshore wind and solar projects, some with co-located battery energy storage systems, under development in Wales.
The portfolio comprises projects at various stages of development, with the first projects expected to commence construction in 2024. In total, the portfolio of onshore wind farms, solar PV projects and co-located battery energy storage systems could have an installed capacity in excess of 2,000 MW by 2030, making a substantial contribution towards meeting the renewable energy targets of the Welsh Government and the net zero carbon objectives of the UK Government.
Extensive engagement and consultation with stakeholders and local communities will be undertaken in line with the planning process for developments of national significance in Wales. The projects are expected to attract significant investment and deliver substantial socio-economic benefits to the local and regional economy. Bute will continue to lead the development activities and CIP will contribute its expertise in procurement and financing large-scale renewable energy projects.
“We are very excited to partner with Bute Energy on the significant portfolio of renewable energy projects in Wales. We look forward to supporting Bute’s development activities and contributing our own expertise in the delivery of large-scale renewable infrastructure investments to deliver projects that will make a significant contribution to the green transition.”, says Christian Skakkebæk, Senior Partner at CIP.
“We are delighted to be partnering with CIP. This investment will allow us to accelerate the development of our portfolio and bring significant supply chain and economic benefits to Wales. Our first onshore wind planning application will be made in the summer of 2022 for the Twyn Hywel Energy Park, located largely within a Pre-Assessed Area for Wind Energy in Southeast Wales. We look forward to making a meaningful contribution to the Welsh Government’s renewable energy targets as well as delivering significant benefits for local communities”, says Erik Bonino, Chairman of Bute Energy.
Orrick Herrington & Sutcliffe LLP (legal) and ITPEnergised (technical) advised CIP on the transaction. Reed Smith LLP (legal) and PKF Francis Clark (financial) advised Bute.
About Copenhagen Infrastructure Partners
Copenhagen Infrastructure Partners P/S (CIP) is a fund management company with approx. EUR 16 billion of assets under management focused on investments in energy infrastructure, including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, and other energy assets like Power-to-X. CIP has approximately 250 employees and offices in Copenhagen, London, Hamburg, Utrecht, New York, Tokyo, Singapore and Melbourne. For more information on CIP, visit www.cip.dk
About Bute Energy
Bute Energy is a developer of onshore wind and solar projects in Wales. The business, founded in 2018, has offices in Cardiff and Edinburgh. For more information on Bute Energy, visit www.bute.energy
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