Copenhagen Infrastructure Partners (CIP) is partnering with Canada’s Beothuk Energy to develop wind farms off the coast of Newfoundland starting with the 180MW St Georges Bay project.
Beothuk will continue to lead the development of St Georges Bay until a power purchase agreement (PPA) has been obtained, CIP said.
Following the agreement of a PPA for the wind farm, CIP will lead the project to financial close and through the construction phase in cooperation with Beothuk, it said.
The Canadian developer said CIP will invest “all of the capital required to construct the project”, which is expected to generate over 500 jobs during construction.
Beothuk said it has plans for more projects in Newfoundland, Nova Scotia, New Brunswick and Prince Edward Island that could total more than 1GW if completed.
CIP senior partner Christina Grumtrup said: “We see significant potential for offshore wind in Atlantic Canada due to strong winds, shallow waters and an existing industry with experience in working in an offshore environment for many years.”
Image: reNEWS
