Offshore wind, Europe
An offshore wind farm in Scotland with a capacity of 588 MW
Located 13.5 km from the coastline in the Outer Moray Firth (Scotland) on the north western point of the Smith Bank, Beatrice has a capacity of 588 MW, providing wind powered electricity for up to 635,000 homes. It is the largest operational offshore wind farm in Scottish waters.
The Beatrice project 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).
On behalf of its two funds, Copenhagen Infrastructure I and II, Copenhagen Infrastructure Partners (CIP) acquired 25% of the Beatrice project from SSE in 2014. In 2016, the two funds acquired a further 5% share each in the Beatrice project increasing the Copenhagen Infrastructure funds total share to 35%. The project is owned in collaboration with SSE (40%) and Red Rock Power (25%). The shareholders invested the equity for the construction of the project which became fully operational, on time and on budget, as well as successfully refinanced in 2019.
The partnership with the largest Scottish utility, SSE, allowed CIP through an early entry to participate in the successful development of the Beatrice project, which became the world’s largest jacket-based offshore wind farm.
Estimated equivalent households powered annually while operational (total project).
Tonnes in CO2 emissions offset per year (total project).
Financial close (Project start):
Siemens 7 MW WTG on Jacket Foundations (suited for larger water depths)
Off-sets 580,000 tonnes in CO2 emissions per year
Copenhagen Infrastructure I
Copenhagen Infrastructure II