Danish fund manager and renewables investor Copenhagen Infrastructure Partners (CIP) has taken full ownership of the Morecambe offshore wind project from COBRA Group and Flotation Energy.
The financial terms of the transaction are not disclosed. Flotation Energy will remain involved after the transaction as a development partner to the project.
Morecambe is a 480MW fixed bottom offshore wind project located 30 km from the Lancashire coast in the Eastern Irish Sea. The project lease was secured in the UK Offshore Wind Leasing Round 4 in 2021, and consent applications have been submitted.
”CIP is very pleased to acquire Morecambe at an advanced stage of development and well placed to contribute to the UK’s Clean Power 2030 Action Plan,” said Nischal Agarwal, partner at CIP.
The acquisition of Morecambe signals further growth for CIP’s UK renewables pipeline, which now stands at over 25GW, covering offshore wind, onshore wind, solar, BESS, and network infrastructure. With a pipeline of this scale, CIP looks forward to making a substantial contribution to the UK’s 2030 objective for energy infrastructure investment.
In the UK, CIP has previously invested in the now operational 588MW Beatrice Offshore wind farm in Scotland and is currently developing the 100MW Pentland and the 3.6GW Ossian floating wind farm, also located in Scotland.
