The result from the Offshore Renewable Electricity Support Scheme 1 (ORESS-1) auction sees the partnership between Copenhagen Infrastructure Partners (CIP), on behalf of its fund Copenhagen Infrastructure IV K/S (CI IV), and Statkraft secure a 500 MW contract, backed by the Irish State.
The partnership participated in the Irish Government’s ORESS-1 process to secure a 500 MW contract from the Irish State to support the development and delivery of the landmark North Irish Sea Array (NISA) offshore wind project. The project is earmarked for an area off the east coast of Ireland and will have the capacity to power approximately half a million Irish homes and businesses.
Commenting on the auction results, Nischal Agarwal, Partner at CIP, said: “We are very pleased with the successful outcome which is an important milestone for us and our partnership with Statkraft. The 20-year contract provides a strong basis on which to continue the development of the NISA project which will contribute towards Ireland’s 2030 renewables target and unlock the potential of offshore wind in the market. The Irish Government must be commended for implementing a reliable framework to deliver competitively priced offshore wind and we look forward to moving the project forward in collaboration with national and local stakeholders.”
David Flood, Senior VP for Offshore Wind with Statkraft, added: “Being successful in Ireland’s first offshore auction is a truly momentous event – not just for Statkraft, but for the entire country. Today’s positive result means that we, alongside our partners, CIP, can continue to work apace to get our offshore project, NISA, off the ground and put Ireland firmly on track to a decarbonised future.”
In January 2023, CIP announced a partnership with Statkraft to develop up to 2.2 gigawatts of offshore wind off the Irish coast; projects which are expected to be among the first commercial scale offshore wind projects in Ireland with commercial operations expected to commence in 2028. As the exclusive offshore wind development partner to CIP, Copenhagen Offshore Partners will co-lead project development activities.
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
CIP manages ten funds and has to date raised approximately EUR 19 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. CIP has approximately 400 employees and 11 offices around the world. For more information, visit www.cip.com
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 5,300 employees in 21 countries.