Copenhagen Infrastructure Partners (CIP) has confirmed it will acquire Morecambe, a 480MW fixed-structured offshore wind project in the UK. Situated offshore from Lancashire, the project is being acquired via CIP’s Copenhagen Infrastructure V (CI V) from COBRA Group and Flotation Group, owned by TEPCO Renewable Power.

The Morecambe project represents part of the CIP’s CI V flagship fund, prioritising £12 billion investment in renewable energy technology. Flotation Energy will remain a key development partner once the transaction is complete. The exact financial specifics are still unknown, and the completion stage depends on several conditions. 
Nischal Agarwal, CIP partner, explains that CIP is very excited to complete the acquisition of Morecambe - a fixed bottom offshore wind project with excellent qualities and is in an advanced development phase, is well suited to support the UK’s Clean Power 2030 Action Plan. 

Agarwall highlights that the Morecambe acquisition demonstrates their confidence in the UK Government to deliver on its ambitious 2030 offshore wind target, enabled by its leading CfD scheme and vital policy changes to accelerate planning and grid processes. 

The Morecambe project was confirmed in the UK Offshore Wind Leasing Round 4 back in 2021 with the submission of consent applications. The acquisition of Morecambe will strengthen CIP’s UK development portfolio, now over 25GW. This pipeline consists of both offshore and onshore wind, solar, battery storage and network infrastructure, following the intentions of the UK’s 2030 energy investment targets. 

Previous UK investments for CIP include the now operational 588MW Beatrice offshore wind farm and the continued development of the Pentland and Ossian floating offshore wind project in Scotland, with capacities of 100MW and 3600MW.

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