Amberside Energy and CIP to construct renewable projects in the UK

Amberside Energy, a British engineering company, and the Flagship Funds of Copenhagen Infrastructure Partners (CIP) have joined forces to build 2 GW of solar and battery storage capacity in the UK. As per the agreement, Flagship Funds will provide the necessary funds for the development of these projects, subject to investment decisions.

CIP stated that the projects will significantly contribute to strengthening the UK’s energy independence while providing ‘predictable and affordable power at a competitive cost’ and decarbonising energy production. Amberside Energy will lead the origination and development activities for the solar and battery storage projects, while CIP will offer its knowledge of procurement, structuring and financing renewable projects.

In January 2023, Statkraft agreed to build 2.2 GW of offshore wind power in Ireland with CIP’s Copenhagen Infrastructure IV K/S (CI IV) fund. At the Bore Array and the North Irish Sea Array (Nisa), the projects would be constructed over the period of three phases. By 2030, they will require a total investment of more than $4.3 billion from Statkraft and CIP.