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EUR 384 Million Investment in New Offshore Grid Connection for North Sea Wind Farms

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17 February 2014
Copenhagen Infrastructure Partners is investing EUR 384 million (DKK 2.9 billion) in the the DolWin3 grid connection, which will transmit electricity to the mainland from a number of offshore wind farms in the German North Sea. DolWin3 is planned to be completed in 2017 and the system will have a total capacity of 900 MW.

The backbone of wind energy distribution

The investment is a joint venture between CIP and TenneT. TenneT will finance the largest portion of the construction costs, which are expected to amount to EUR 1.9 billion. TenneT is one of the largest electricity transmission operators in Europe and is owned by the Dutch state. 

 

“We have entered into an attractive and long-term partnership with one of the key players in the European energy transmission market. Moreover, with this investment, we contribute to the development of the infrastructure in one of the strongest economies in Europe, says Christian Skakkebæk, a senior partner in CIP. 

TenneT will build and operate Dolwin3: 

 

“The investment complements our other investments in energy assets. With the stable German framework for the regulated infrastructure sector, as well as TenneT being a strong and experienced operator, the investment will ensure a strong and experienced operator, the investment will ensure a solid and stable return for many years to come", says Christian Skakkebæk. 

The investment will be made through a separate legal structure with pension fund PensionDanmark as the investor. 

About Copenhagen Investment Partners (CIP)

The mangement company CIP was established in 2012, with PensionDanmark as a seed investor committing EUR 800 million to CIP's first fund, Copenhagen Infrastructure I/S. 

About TenneT

TenneT is Europe's first cross-border electricity transmission operator. With approximately 20,000 kilometers of high-voltage lines and 36 million end-users in the Netherlands and Germany, TenneT ranks among the tio five grid operators in Europe. Its focus is to develop a Northwest European energy market and to integrate renewables. 

Contact

Office Manager Christine Löwke, Copenhagen Infrastructure Parterns, +45 5196 5052, [email protected]

 

Source: Copenhagen Investment Partners

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