Copenhagen Infrastructure Partners secures two offshore wind feasibility licences in Australia and launches new platform company
Copenhagen Infrastructure Partners (CIP) has secured nearly 1,300km2 of seabed in Australia to progress two offshore wind projects and launched a new platform company – Southerly Ten.
MELBOURNE, Australia and COPENHAGEN, Denmark, May 01, 2024 (GLOBE NEWSWIRE) -- CIP, on behalf of its Flagship Funds, today announced it was successful in Australia’s first offshore wind Feasibility Licence process securing two licences. CIP has site exclusivity to develop offshore wind projects over two areas one 586km2 and the other 689 km2. Combined the two projects have the potential to deliver up to 4.4 GW of capacity – enough to power 2.4 million homes.
To coincide with the Australian Government granting CIP’s Flagship Funds two offshore wind Feasibility Licences, CIP has launched Southerly Ten – a dedicated platform company for the specialist development and delivery of offshore wind projects in Australia.
CIP entered Australia in 2017 investing in the development of offshore wind and pioneering a new local industry. Southerly Ten demonstrates CIP’s ongoing commitment to unlocking the energy, climate and economic benefits of offshore wind in this market.
“CIP was a first mover in developing offshore wind in Australia and has been proudly working with local communities, government and industry to kick start an offshore wind industry,” said Jørn Hammer, partner and Head of CIP Australia. “We are excited about the prospects of Southerly Ten to expand on CIP’s extensive global experience and expertise in offshore wind development.”
Southerly Ten will lead the development and delivery of CIP’s Australian offshore wind portfolio, including its first two projects – Star of the South and Kut-Wut Brataualung. Established Australian executive, Charles Rattray will run Southerly Ten. Rattray has been CEO of Star of the South since August 2022 and has more than 20 years of experience in energy and finance.
“I am thrilled to lead Southerly Ten and build upon CIP’s efforts to establish an offshore wind industry in Australia and continue to grow its pipeline,” said Rattray. “Southerly Ten will make a significant contribution to Australia’s green energy transition while bringing economic and job opportunities to the regions.”
CIP’s Flagship Funds will provide capital for project development and to grow Southerly Ten and then, subject to investment decisions at the time, CIP intends to provide the capital for project construction.
For more information about Southerly Ten, visit www.southerlyten.com.au.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
CIP manages 12 funds and has to date raised approximately EUR 28 billion for investments in energy and associated infrastructure from more than 160 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com.
About Southerly Ten
Southerly Ten is CIP’s specialist offshore wind energy developer for Australia, from the team behind Australia’s most advanced offshore wind project – Star of the South. Southerly Ten brings unmatched commitment and capability to its mission - to advance an Australian offshore wind industry and leave a positive legacy of clean energy for future generations. For more information, visit www.southerlyten.com.au.
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