CIP buys into German offshore grid connections

In: CablesConvertersGridSubstations
Copenhagen Infrastructure Partners (CIP) has expanded on its partnership with Dutch transmission system operator TenneT Holding B.V. (TenneT). It concerns a portfolio of four German offshore grid connections with a total transmission capacity of around 2.8 GW.

The portfolio comprises the
BorWin1, BorWin2, HelWin2 and DolWin2 transmission lines and converter stations, which were the first high voltage direct current systems to connect offshore wind farms to the grid. All have reached commercial operations, with some minor construction ongoing to connect them to further wind farms.

The transaction was made via an acquisition by CI Artemis II K/S, advised by CIP, of a minority stake in joint venture companies related to the operation of the four grid connection systems. This investment is subject to the same regulatory framework as the investment into the German offshore grid connection system DolWin3, for which CI Artemis K/S entered into a related joint venture with TenneT in 2014, on which WFW also advised CIP.

CIP was founded in 2012 by executives from the energy industry in cooperation with PensionDanmark. It is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, and other energy assets like reserve capacity and storage. The company operates out of offices in Copenhagen, the US, the UK, Germany and Taiwan.

CIP has invested in multiple offshore wind farms across Europe, including the  
ChangFang and Xidao which are being developer off the Taiwanese coast as well as Star of the South; the first offshore wind project being developed off the Australian coast.

Watson Farley & Williams (WFW) advised Copenhagen Infrastructure Partners on on the expansion of its partnership with TenneT. The multi-disciplinary WFW Germany team that advised CIP was led by Hamburg Corporate Energy Partner and WFW Germany Head Dr Marcus Bechtel.

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