CIP divests equity stake in the Beatrice Offshore Wind Farm
Copenhagen Infrastructure Partners (CIP), through the funds Copenhagen Infrastructure I K/S (CI-I) and Copenhagen Infrastructure II K/S (CI-II), has entered into two agreements to divest the funds’ combined 35% stake in the Beatrice Offshore Wind Farm, operating in Scottish waters.
The Renewables Infrastructure Group Limited and Equitix will acquire 17.5% each and join Beatrice Offshore Windfarm Ltd (BOWL) alongside SSE Renewables (40%) and Red Rock Power Limited (25%).
CIP has been involved with Beatrice for seven years. CI-I and CI-II entered the Beatrice project in 2014 and CIP contributed actively to the successful development, construction, and operations phases in great cooperation with the project partners SSE and RedRock Power.
The Beatrice project reached financial close in 2016 and achieved full commercial operations on time and within budget in May 2019 and was refinanced in July 2019.
The transaction is pending regulatory approval.
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