CIP Acquires 480 MW UK Offshore Wind Project
POWER & RENEWABLE ENERGY

CIP Acquires 480 MW UK Offshore Wind Project

Copenhagen Infrastructure Partners (CIP) has agreed to acquire the 480-megawatt Morecambe offshore wind project in Britain from COBRA Group and Flotation Energy, the fund manager announced.

Located off the Lancashire coast in the Eastern Irish Sea, the fixed-bottom wind farm will generate enough electricity to power over 500,000 homes. The project lease was secured in a UK offshore wind leasing round in 2021, and planning applications have already been submitted.

While the financial details of the transaction remain undisclosed, Flotation Energy, owned by TEPCO Renewable Power, will continue as a development partner post-acquisition.

The British government has set an ambitious target of delivering 43-50 gigawatts (GW) of offshore wind power by 2030 as part of its climate action strategy. The Morecambe project is expected to contribute significantly to this goal.

"By investing in projects like Morecambe, we are strengthening our commitment to accelerating the transition to clean energy," CIP stated.

Image Source: Energy Monitor

Copenhagen Infrastructure Partners (CIP) has agreed to acquire the 480-megawatt Morecambe offshore wind project in Britain from COBRA Group and Flotation Energy, the fund manager announced. Located off the Lancashire coast in the Eastern Irish Sea, the fixed-bottom wind farm will generate enough electricity to power over 500,000 homes. The project lease was secured in a UK offshore wind leasing round in 2021, and planning applications have already been submitted. While the financial details of the transaction remain undisclosed, Flotation Energy, owned by TEPCO Renewable Power, will continue as a development partner post-acquisition. The British government has set an ambitious target of delivering 43-50 gigawatts (GW) of offshore wind power by 2030 as part of its climate action strategy. The Morecambe project is expected to contribute significantly to this goal. By investing in projects like Morecambe, we are strengthening our commitment to accelerating the transition to clean energy, CIP stated.Image Source: Energy Monitor

Next Story
Real Estate

Indian REITs Offer 6-7.5 per cent Yield, Surpassing Many Global Markets

Indian Real Estate Investment Trusts (REITs) are delivering average yields of 6–7.5 per cent for unitholders, outperforming many mature markets, including the US, according to a report by Credai and Anarock.Credai, the apex body of Indian real estate developers, and property consultant Anarock released the report Indian REITs – A Gateway to Institutional Real Estate at an event in India.Currently, India has five listed REITs – Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, Nexus Select Trust, and Knowledge Realty Trust. Nexus Select Trust pr..

Next Story
Infrastructure Energy

Insolation Energy Wins 226 MW Solar Projects Under PM-KUSUM

Insolation Energy on Monday announced securing multiple solar projects totalling 226.45 MW, with an investment of Rs 7.5 billion, under the PM-KUSUM scheme. The orders were awarded to its wholly-owned subsidiary, Insolation Green Energy Pvt Ltd, by Jaipur Vidyut Vitran Nigam Limited for 20 sites and Ajmer Vidyut Vitran Nigam Limited for 115 sites, the company informed the exchanges.“The combined SPV solar power plants will total 226.45 MW under PM-KUSUM Component A, with the final levelised tariff at Rs 3.04 per unit for 16 sites, Rs 2.82 per unit for 5 sites, Rs 2.75 per unit for 53 sites, ..

Next Story
Infrastructure Energy

Numaligarh Refinery Awards EPC Contract for Rooftop Solar Projects

State-owned Numaligarh Refinery Ltd. (NRL) has awarded a Letter of Award to Solarium Green Energy Ltd. for the rate contract covering the Engineering, Procurement, and Construction (EPC) of grid-connected rooftop solar PV projects at various locations. The projects fall within the categories of 51–200 kW and 201–1000 kW. Notable projects include a 140 kW rooftop solar plant at NRL Assam, a 760 kW plant at NRL Assam, and a 280 kW plant at NRL West Bengal.The supply order covers ex-manufacturing works and the dispatch price for plant and equipment for the 140 kW, 760 kW, and 280 kW rooftop s..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?