Copenhagen Infrastructure Partners (CIP), on behalf of its fund Copenhagen Infrastructure V (CI V), has agreed to acquire full ownership of the Morecambe offshore wind project from Cobra Group and Flotation Energy, which is owned by Tepco Renewable Power.
The transaction will be completed once customary approvals and conditions are met. Financial details have not been disclosed. Flotation Energy will continue as a development partner after the acquisition.
Morecambe is a 480MW fixed-bottom offshore wind project located 30km off the Lancashire coast in the eastern Irish Sea. The project lease was secured in the UK Offshore Wind Leasing Round 4 in 2021, and consent applications have been submitted.
Morecambe will become part of CIP’s CI V flagship fund, which has a target size of EUR 12 billion and invests in renewable technologies including wind, solar photovoltaic (PV), and energy storage across Europe, North America, and Asia Pacific.
