Copenhagen Infrastructure Partners (CIP) acquired 25% in the Five Estuaries Offshore Wind Farm project. This is reported in the CIP press release.
As part of the deal, CIP joins project partners EDF Power Solutions (33.3%), ESB (20.83%) and Sumitomo Corp. (20.83%).
The updated partnership structure is an important step in a project that integrates the development, financing and operation of large-scale offshore wind farms.
CIP, which continues to expand its portfolio of investments in British energy infrastructure, intends to work closely with project partners as a long-term investor.
Five Estuaries Offshore Wind Farm is located 40 km offshore in North Essex and south Suffolk. The 1,080 MW project, once operational, will generate enough electricity for one million homes in the UK.
From the point of view of CIP, offshore wind energy provides the UK with the opportunity to use environmentally friendly energy from its own production, reduce and stabilize electricity bills, create jobs, as well as strengthen energy security and ensure economic growth.
CIP is a Danish energy investment company (solar and wind energy production, energy storage, distribution, bioenergy and carbon capture). CIP manages 15 funds, which have raised 43 billion euros, and implements projects in 30 countries. The headquarters is located in Copenhagen (Denmark).
EDF Power Solutions is an international energy company for the development, construction and operation of renewable and low—carbon energy facilities. The company is a subsidiary of the French EDF Group, one of the world's largest companies producing low-carbon electricity.
Sumitomo Corp. is a Japanese trading and investment company with a global network in 60 countries. Sumitomo unites 500 companies and 80 thousand employees. The headquarters is located in Tokyo (Japan).
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