SSE has today confirmed the sale of a further 10% stake in the 588 MW Beatrice offshore wind farm to joint venture partner Copenhagen Infrastructure Partners (CIP).
The news marks another key step in the project’s preparation for construction, in advance of the upcoming final investment decision due in March 2016. SSE (40%) continues to act as lead operator of the project alongside CIP (35%) and Repsol (25%).
The Beatrice project is located in Outer Moray Firth, Scotland, on the north-western point of the Smith Bank, 13.5km from the Caithness coastline at the closest point. It is one of five offshore wind projects in the UK awarded an Investment Contract by the UK government (fixed inflation indexed settlement price for a 15 year period). The project was substantially developed by SSE plc and Repsol S.A. The offshore wind farm is planned to be fully operational in 2019.
CIP acquired in November 2014, on behalf of its two funds, Copenhagen Infrastructure I and II, the 25% of the offshore wind farm from SSE.
Copenhagen Infrastructure I has PensionDanmark as their sole investor while Copenhagen Infrastructure II K/S has at least eight Danish institutional investors: PensionDanmark, Lægernes Pensionskasse, PBU, JØP, DIP, Nordea, Nykredit and PFA.