The project portfolio is expected to have a combined installed capacity of more than 2GW by 2030
CIP, Bute partner on renewable energy projects. (Credit: TheOtherKev from Pixabay)
Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure IV (CI IV), has partnered with Bute Energy to deliver onshore wind and solar projects in Wales, UK.
As part of the partnership, CI IV will invest in Bute’s renewable energy projects, which are in various stages of development.
The portfolio also comprises projects with co-located battery energy storage systems.
The projects are expected to contribute towards achieving the renewable energy targets of the Welsh Government and the net zero carbon objectives of the UK Government.
In addition, they are anticipated to drive significant investment and deliver substantial socio-economic benefits to the local and regional economy.
The portfolio of onshore wind farms, solar PV projects and co-located battery energy storage systems is expected to have a combined installed capacity of more than 2GW by 2030.
CIP senior partner Christian Skakkebæk said: “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.”
Bute is responsible for leading the development activities and CIP would contribute its expertise in procurement and financing large-scale renewable energy projects.
The construction at the first projects is expected to commence in 2024.
Both the companies will begin consultations with stakeholders and local communities abiding to the planning process for the developments in Wales.
Orrick Herrington & Sutcliffe served as legal, and ITPEnergised as technical advisor to CIP, while Reed Smith served as legal and PKF Francis Clark as financial advisor to Bute on the transaction.
Recently, CIP has partnered with Enagás, Naturgy, Fertiberia and Vestas to develop the first phase of Project Catalina, a renewable energy and green hydrogen project in Spain.