Copenhagen Infrastructure Partners (CIP) has agreed to invest $350 million in Korean offshore wind projects. The funds will be utilised to develop gigawatt (GW)-scale projects, and the investments will be made through CIP’s flagship funds. The projects, which will use fixed bottom and floating offshore wind technologies, will be constructed in Korea’s Jeonnam Province, including Shinan County, Yongkang County, and the Ulsan region, by CIP’s offshore wind development partner, Copenhagen Offshore Partners (COP).
They will help Korea reach its target of 14.3 GW of offshore wind power capacity by the end of the 2020s. CIP has been present in the Korean renewable energy market since 2018. It has been involved in the development of offshore wind projects and has secured an electricity business licence for the projects.
In May 2023, CIP reached an agreement with TC Energy to sell two of its US onshore wind farms in Texas for an undisclosed sum. CIP agreed to sell the Blue Cloud and Fluvanna I wind farms through its Copenhagen Infrastructure II K/S fund. Located in Scurry County, Fluvanna I is a 155 MW project that has been operational since 2017. The 148 MW Blue Cloud wind farm opened in 2018 in Bailey and Lamb Counties.
