Amberside Energy and Copenhagen Infrastructure Partners (CIP), on behalf of its Flagship Funds, have partnered to develop 2GW of solar and battery storage projects in the UK.
Under the terms of the partnership, CIP’s Flagship Funds will provide the capital for project development with the ambition of creating a portfolio of scale that, over time, will have projects in operation, in construction as well as under development.
Subject to investment decisions at the time, CIP intends to provide the capital required for the construction of the projects in this portfolio.
Amberside Energy will continue to lead origination and development activities for the solar and battery storage projects while CIP will contribute its expertise in procurement, structuring and financing renewable energy projects.
“We look forward to a successful partnership with Amberside Energy for the development of a significant pipeline of clean-energy projects that will help accelerate the UK’s energy transition to ‘net zero’ greenhouse gas emissions by 2050,” said Radu Gruescu, Partner at CIP.
“UK solar and battery storage have become increasingly competitive in recent years and are now some of the most cost-efficient technologies, contributing to enhancing grid flexibility, resilience and increasing the overall security of supply.”
Marc Scambler, Co-Founder and CEO of Amberside Energy, added: “We are delighted to form a partnership with CIP. Together, we will be able to accelerate the energy transition in the UK at scale.
“Our origination and development efforts are well underway, and our proprietary grid model combined with experience gained from auditing and asset managing such schemes helps maximise the efficiency of the development process.
“We expect our first projects to be ready to begin construction in the next two years and to deliver significant benefits to the communities who host them as well as generating sustainable green power for many years ahead.”