Copenhagen Infrastructure Partners (CIP) is selling its stake in the 588MW Beatrice offshore wind farm off the coast of Scotland to The Renewables Infrastructure Group (TRIG) and funds managed by Equitix Investment Management.
TRIG said that it has exchanged contracts to acquire an equity stake of 17.5% in the wind farm, which represents approximately 12% of the company s investment portfolio.
The investment, which is subject to regulatory and lender consents that are expected to be received in the coming weeks, will be financed from a drawdown of the group s recently renewed revolving credit facility.
Equitix is also taking a 17.5% stake from CIP.
Five lonely wind turbines spin in the state waters off the coast of Rhode Island. They’re the entirety of the Block Island Wind Farm, the United States’ only commercial-scale offshore wind facility currently in service, with an installed capacity of just 30 megawatts.
By contrast, on-land renewables are growing. We’ve installed more than 100 gigawatts of onshore wind capacity and 89 gigawatts of solar.
The Block Island project, completed in 2016, remains a monument to possibility, though. And it’s one that’s about to be realized.
Admittedly, no new commercial-scale offshore wind energy projects will break water this year in the United States. Despite that, the industry is poised for a big year. And we desperately need it, experts say.
Greentech Media
Reporter covering the green technology space, with a particular focus on smart grid, demand response, energy storage, renewable energy and technology to integrate distributed, intermittent green energy into the grid.
New York s biggest round of offshore wind contracts yet anchor Gov. Andrew Cuomo s latest green investment plan.
The state of New York has awarded 2.5 gigawatts of offshore wind projects to developers Equinor and BP, the largest yet in the state’s massive offshore wind build-out and one of the single largest U.S. renewable energy contracts yet awarded.
Wednesday’s award, announced by New York Gov. Andrew Cuomo during his 2021 State of the State address, hands the entirety of New York’s second large-scale solicitation to the two European oil majors that have joined forces in targeting the emerging Eastern U.S. offshore wind opportunity.