Copenhagen Infrastructure Partners (CIP) has reached an agreement with Bute Energy to invest in the developer’s portfolio of up to 2GW of onshore wind and solar projects in Wales.
CIP’s Copenhagen Infrastructure IV K/S (CI IV) fund will invest in Bute’s renewable energy projects, in various stages of development, some of which are co-located battery energy storage.
The first projects are expected to commence construction in 2024.
In total, the portfolio of onshore wind farms, solar PV projects and co-located battery energy storage systems could have an installed capacity in excess of 2GW by 2030.
Extensive engagement and consultation with stakeholders and local communities will be undertaken in line with the planning process for developments of national significance in Wales.
Bute will continue to lead the development activities and CIP will contribute its expertise in procurement and financing large-scale renewable energy projects.
“We are very excited to partner with Bute Energy on the significant portfolio of renewable energy projects in Wales.
“We look forward to supporting Bute’s development activities and contributing our own expertise in the delivery of large-scale renewable infrastructure investments to deliver projects that will make a significant contribution to the green transition.”, said Christian Skakkebæk, senior partner at CIP.
Bute Energy chairman Erik Bonino said: “We are delighted to be partnering with CIP. This investment will allow us to accelerate the development of our portfolio and bring significant supply chain and economic benefits to Wales.
“Our first onshore wind planning application will be made in the summer of 2022 for the Twyn Hywel Energy Park, located largely within a Pre-Assessed Area for Wind Energy in Southeast Wales.
“We look forward to making a meaningful contribution to the Welsh Government’s renewable energy targets as well as delivering significant benefits for local communities.”