Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has entered into an agreement to acquire full ownership of the Morecambe offshore wind project.
The transaction, which is subject to customary approvals and conditions, involves the purchase of the project from COBRA Group and Flotation Energy, a company owned by TEPCO Renewable Power, Inc. While the financial terms of the deal remain undisclosed, Flotation Energy will continue as a development partner.
Morecambe Offshore Wind Project: A Key Asset in UK’s Renewable Strategy
The Morecambe project is a 480MW fixed-bottom offshore wind farm situated 30 kilometers off the Lancashire coast in the Eastern Irish Sea. Originally secured during the UK Offshore Wind Leasing Round 4 in 2021, the project has already reached the consent application stage.
Commenting on the acquisition, Nischal Agarwal, Partner at CIP, stated:
“CIP is very pleased to acquire Morecambe – a fixed bottom offshore wind project of excellent fundamental qualities, at an advanced stage of development, and well placed to contribute to the UK’s Clean Power 2030 Action Plan. Our acquisition of the Morecambe project demonstrates CIP’s confidence in the delivery of the UK Government’s ambitious 2030 offshore wind target, as enabled by its world-leading CfD scheme, and key reforms aimed at speeding up planning and grid processes.”
What is a fixed-bottom offshore wind farm?
A fixed-bottom offshore wind farm consists of wind turbines installed on foundations anchored to the seabed in relatively shallow waters (typically up to 60 meters deep). These foundations, which can be monopiles, jackets, or gravity-based structures, provide stability for the turbines to generate electricity from wind energy. The power is typically transmittedvia subsea cables to the onshore grid.
CIP CI V Strategic Investment and footprint in the UK
The Morecambe project will be integrated into CIP’s CI V flagship fund, which targets a total fund size of EUR 12 billion. The fund invests in a diverse range of renewable technologies, including wind, solar photovoltaic (PV), and energy storage, across key markets in Europe, North America, and Asia Pacific.
As CIP continues to expand its renewable energy portfolio, the acquisition of Morecambe represents a strategic step in advancing the UK’s offshore wind capacity and accelerating the transition towards sustainable energy infrastructure.
CIP has a proven track record in the UK renewable energy sector, with investments spanning offshore wind, onshore wind, solar, battery energy storage systems (BESS), and network infrastructure. CIP has recently reached final investment decision, through its flagship fund CI IV, has reached a Financial Investment Decision (FID) and issued Notice to Proceed (NTP) for the construction of two Battery Energy Storage System (BESS) projects in Scotland.
In addition to Morecambe and these two BESS projects, CIP has previously invested in the operational Beatrice Offshore Wind Farm (588MW) in Scotland and is actively developing the Pentland (100MW) and Ossian (3600MW) floating offshore wind farms, both also located in Scotland.
Morecambe Wind Farm - Planning and Regulatory Milestones
The project submitted its application to the Planning Inspectorate on October 21, 2024, and it was formally accepted on November 18, 2024, allowing it to progress to the pre-examination stage. The submission followed extensive public consultations and ongoing technical engagement with stakeholders, ensuring that feedback and assessments shaped the project’s development.
With the application accepted, public notices will be issued to inform stakeholders about the representation period and how to register as an interested party. The Planning Inspectorate will oversee this process, with further details available on its website.
The examination is expected to begin in early 2025 and last approximately six months. Following this, the Examining Authority will submit recommendations to the Secretary of State for Energy Security and Net Zero, who will make the final decision on granting the Development Consent Order (DCO). A final decision is anticipated in 2026, with project’s commercial operational date expected between 2028 and 2029.
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