Copenhagen Infrastructure Partners (CIP) has created a dedicated Australian offshore wind platform to spearhead the development of its first two projects.
CIP, which is investing on behalf of its flagship funds, said it has secured two licences in Australia鈥檚 first offshore wind feasibility licence process to progress the wind projects and has launched the new platform company, Southerly Ten.
CIP has secured exclusive development rights for offshore wind projects in two areas: the Star of the South project, spanning 586sq km; and the Kut-Wut Brataualung, spanning 689sq km. Together, these zones have the potential to generate up to 4.4GW of clean energy, enough to power roughly 2.4m homes.
CIP said Southerly Ten will lead the development and delivery of CIP鈥檚 Australian offshore wind portfolio, including its first two projects.
CIP鈥檚 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.
Charles Rattray, who has been CEO of Star of the South since August 2022, will run Southerly Ten.
J酶rn Hammer, partner and head of CIP Australia, said: 鈥淐IP 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.
鈥淲e are excited about the prospects of Southerly Ten to expand on CIP鈥檚 extensive global experience and expertise in offshore wind development.鈥�
Rattray said: 鈥淪outherly Ten will make a significant contribution to Australia鈥檚 green energy transition while bringing economic and job opportunities to the regions.鈥�
CIP entered Australia in 2017 investing in the development of offshore wind.
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