The Danish firm will take part in the partnership through its CI IV fund and will acquire a stake of 50% in Statkraft’s Irish offshore wind portfolio
Norwegian energy company Statkraft and Danish investment firm Copenhagen Infrastructure Partners (CIP) have entered into a partnership with the intent to develop up to 2.2GW of offshore wind capacity in Ireland.
The Danish firm will take part in the partnership through its Copenhagen Infrastructure IV K/S (CI IV) fund. As part of it, Copenhagen Infrastructure Partners will acquire a stake of 50% in Statkraft’s Irish offshore wind portfolio for an undisclosed price.
Copenhagen Infrastructure Partners partner Nischal Agarwal said: “In combining CIP’s industrial background and international experience within offshore wind with Statkraft’s experience of Irish renewables, the partnership will enable the provision of renewable power to Irish homes and businesses and contribute to reaching the government’s ambitious decarbonisation targets.”
Three phases of the North Irish Sea Array (NISA) and the Bore Array offshore wind projects will be the scope of the partnership.
Statkraft and its Danish partner expect to invest over €4bn by 2030 for developing and constructing the offshore wind projects.
The NISA offshore wind project is proposed to be built off the coast of the Dublin, Louth, and Meath counties. It is designed to have the capability of powering up to 500,000 homes.
On the other hand, the Bore Array offshore wind farm is proposed to be built in the Celtic Sea.
Statkraft Norway offshore wind head Gry Aamodt said: “The agreement and cooperation with CIP gives us access to expertise and experience from both bottom-fixed and floating offshore wind projects. The projects in Ireland will make us even better positioned for the development of both Sørlige Nordsjø II, Utsira Nord and future projects in Norway.”
In late 2022, Copenhagen Infrastructure Partners forged a partnership with Ørsted to develop about 5.2GW offshore wind energy capacity in Denmark.