Copenhagen Infrastructure Partners (CIP) will join NorSea and Parkwind in a partnership dedicated to developing floating offshore wind projects in Norway.
In doing so, the companies will further strengthen their consortium initially targeting the 1.5GW Utsira Nord tender.
The group aims to take part when Norway realizes its goal of increasing renewable energy production from offshore wind with a foundation in Norwegian industry and R&D, creating jobs and growing the Norwegian economy.
CIP has teamed up with Norwegian pension fund KLP as a strategic co-investor.
Norway has a clear target of reaching net zero by 2050 and has committed to establishing 30GW of offshore wind power by 2040.
The majority of Norwegian offshore wind potential are at water depths requiring floating wind projects.
The first tender round in 2023 includes the Utsira Nord area which will initially offer 1.5GW of capacity.
The objectives stated publicly by the Norwegian government are to develop a competitive supplier base, technology hub and industry around floating offshore wind.
By entering the partnership, the three companies aim to combine their considerable expertise in developing, financing, and constructing renewable assets to successfully enter the Norwegian floating offshore market.
Together they have broad experience from similar projects in Northern Europe and the rest of the world combined with a strong local presence, local knowledge, and ambitions to contribute to development of local value chains and industry.
NorSea Impact chief executive Kristin Gjertsen said: “CIP, with their experience, forward-leaning renewable technologies, and financial capacity, will further strengthen our partnership and bring capabilities that will help ensure a high quality and competitive application and development of Utsira Nord.
“The inclusion of KLP as CIP’s strategic co-investor further underlines the Norwegian position, and our main ambition to build a strong Norwegian industry developing offshore wind for the future.”
CIP partner Nischal Agarwal said: “We are very pleased to enter into this partnership with such capable and ambitious partners.
“It will substantially strengthen our foothold in Norway and provide us with a strong platform to aid the development and growth of the Norwegian offshore wind industry over the next decade as well as the creation of local industry, innovation and jobs.”
Parkland head of M&A, origination and tenders at Parkland Mathias Van Steenwinkel said: “The creation of this partnership is particularly exciting as it brings some of the most competent, relevant, and experienced industry players together.
“It represents a major step forward for the development of offshore energy in Norway.
“The combination of expertise and resources coming from this consortium is bound to lead to innovation, local value creation to the transition to a sustainable future.”