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CIP Sets Sail With North Sea Interconnector Portfolio Declaration

4C Offshore | Chloe Emanuel
By: Chloe Emanuel 02/03/2023 Copenhagen Infrastructure Partners

The UK-Europe interconnector portfolio (Aminth, Cronos, and Tarchon projects) has been declared eligible for Third Cap and Floor Window in the UK.

Copenhagen Infrastructure Partners’ (CIP) Flagship Fund’s interconnector portfolio has been included amongst the short-list of projects assessed for regulatory approval in the UK, in the alleged Third Cap and Floor Window.

CIP has acquired close to full ownership in the 4.2 GW subsea interconnector portfolio in late 2022 from UK developer Volta Partners. The portfolio consists of three interconnector development opportunities connecting the UK with Denmark (Aminth), Belgium (Cronos), and Germany (Tarchon), respectively aiming to reach a final investment decision in 2026 and start of operations between 2030 and 2032.

All three projects received their UK interconnector licenses earlier this year and were officially included in the list of eligible Third Cap and Floor Window projects by the UK Office of Gas and Electricity Markets (Ofgem) on 24 February. The Projects will now progress through a more detailed financial and technical assessment with the Initial Project Assessment award anticipated after the summer.

The Esbjerg Declaration of May 2022 aimed to establish the North Sea as a powerhouse of renewable energy. Subsequently, four countries (Denmark, Belgium, Germany, and the Netherlands) pledged to expand their combined North Sea offshore wind capacity to 65 GW by 2030.
“Interconnectors play a critical role in enabling the energy transition, creating the flexibility to harness ever greater amounts of renewable energy, while ensuring energy security through a connected system. The North Sea is uniquely positioned with the potential to deliver much of Europe’s future power, and Aminth, Cronos, and Tarchon are key components to deliver on European energy policy objectives and help build out the full potential of the North Sea”
says Otto Jager, Partner at CIP.

For more information on interconnector projects worldwide, click here


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