Copenhagen Infrastructure Partners (CIP) has sold a 10% in its 2200MW Star of the South offshore wind project to Australian superannuation fund Cbus Super.
This follows Cbus’ investment into CIP’s flagship fund, CI IV, which is the majority owner of Star of the South.
CIP specialises in energy infrastructure investments, including offshore wind projects and Cbus is one of Australia’s leading building and construction industry super funds.
Star of the South is Australia’s most progressed offshore wind project, to be located off the south coast of Gippsland in Victoria.
CIP said its partnership with Cbus will strengthen local participation in Star of the South, while continuing to draw on CIP’s leading global expertise in developing and delivering offshore wind projects.
CIP partner Michael Hannibal said: “CIP is pleased to continue to strengthen our long-term partnership with Cbus, a superannuation fund that shares a similar perspective as CIP on the importance of clean energy resources.
“Combining CIP’s industrial background and international experience within offshore wind with Cbus’ local experience, our partnership will enable the provision of renewable power to Victorian homes and businesses and contribute to reaching Victoria’s decarbonisation targets.
“The transaction highlights the significant potential of offshore wind in Australia, with the opportunity for Victoria to be a leader in the significant global growth of offshore wind.”