Copenhagen Infrastructure Partners (CIP) has acquired a 25% stake in the up to 1,080MW Five Estuaries Offshore Wind Farm in the UK from a Macquarie Asset Management-led consortium.
The acquisition was made on behalf of CIP鈥檚 Copenhagen Infrastructure V (CI V).
Following the transaction, CIP鈥檚 CI V joins existing joint venture partners EDF power solutions, which holds 33.33%, alongside ESB and Sumitomo Corporation, each with a 20.83% stake, to take the project forward off the Essex and Suffolk coast.
Financial details were not disclosed.
Kunal Patel, partner at CIP, said:鈥�淥ffshore wind offers the UK a golden opportunity to deploy clean, home-grown energy at scale, to lower and stabilise electricity bills, create highly skilled jobs as well as bolster energy security and deliver economic growth.
鈥淐IP is delighted to be further expanding our UK investment portfolio through acquiring a stake in Five Estuaries Offshore Wind Farm, and we look forward to working with partners to deliver the project.鈥�
Matthieu Hue, CEO of EDF power solutions UK and Ireland, said: 鈥淲e are delighted to join our partners in the Five Estuaries Offshore Wind Farm project.
鈥淭his project perfectly complements our existing portfolio in the UK and Ireland. We look forward to working closely with our partners and local stakeholders to bring the project online and support the UK鈥檚 energy independence and security.鈥�
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