February.21.2022
Orrick has advised Copenhagen Infrastructure Partners (CIP) on its partnership with Bute Energy (Bute). As part of the transaction, CIP’s flagship fund Copenhagen Infrastructure IV K/S will invest in Bute’s portfolio of onshore wind farms and solar PV projects, some with co-located battery energy storage systems, under development in Wales. This transaction marks a further expansion of CIP’s portfolio of investments in the UK renewable energy sector.
The Bute portfolio consists of projects at various stages of development, with the first projects expected to commence construction in 2024. In total, the portfolio is expected to have an installed capacity of over 2GW by 2030, making a substantial contribution towards meeting the renewable energy targets of the Welsh Government and the net zero carbon objectives of the UK Government.
The Orrick team advising CIP on this transaction includes Evan Stergoulis, Simon Alsey, Adam Smith, Simon Folley, Craig Bruce, Oliver Sikora, Rebecca Grevitt, Sejal Patel, David O’Donovan and Fiona Jeffery-Sinclair.