New partnership aims to take Norwegian offshore wind to the next level
The partners will combine their expertise in developing, financing, and constructing renewable assets to successfully enter the Norwegian floating offshore market
Copenhagen Infrastructure Partners (CIP) will join Wilhelmsen-owned NorSea, and Parkwind in a partnership dedicated to floating offshore wind projects in Norway. In doing so, the companies will further strengthen their consortium initially targeting the Utsira Nord tender.
The three companies, all leading Nordic and European renewable, and industrial companies, bring together substantial knowledge of offshore maritime operations and renewable energy project development and execution in Norway and worldwide. By forming a partnership, the group aims to take part when Norway realizes its goal of increasing renewable energy production from offshore wind with a foundation in Norwegian industry and R&D, creating both jobs and growing the Norwegian economy.
CIP has teamed up with Norwegian pension fund KLP as a strategic co-investor ensuring a strong anchor point and contribution to Norwegian society in the decades to come.
Norway has a clear target of reaching net zero by 2050 and has committed to establishing 30 GW ofoffshore wind power by 2040. The majority of Norwegian offshore wind potential are at water depths requiring floating wind projects. The first tender round in 2023 includes the Utsira Nord area which will initially offer 1.5GW of capacity. The objectives stated publicly by the Norwegian government are to develop a competitive Norwegian supplier base, technology hub and industry around floating offshore wind.
By entering the partnership, the three companies aim to combine their considerable expertise in developing, financing, and constructing renewable assets to successfully enter the Norwegian floating offshore market. Together they have broad experience from similar projects in Northern Europe and the rest of the world combined with a strong local presence, local knowledge, and ambitions to contribute to development of local value chains and industry.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X. CIP manages ten funds and has to date raised approximately EUR 19 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. CIP has approximately 400 employees and 11 offices around the world.
NorSea has more than 55 years of history at the core of the Norwegian offshore industry. The company is a complete supplier of port services, base and logistics solutions to customers in both the oil and gas industry, the aquaculture industry, the wind industry, and other maritime industries. The NorSea Group currently operates nine offshore bases and port facilities along the coast of Norway, as well as bases in Denmark and the UK.
In recent years, NorSea has also built up an ever-increasing business in renewable industries such as offshore wind. Including a number of project assignments and service deliveries related to mobilization and project logistics, maintenance and modification services, hiring of technical personnel, marine support, etc. In 2022, NorSea had a turnover of around NOK 2.5 billion and around 1300 employees. NorSea is owned by the Wilhelmsen group, a comprehensive global maritime company.
Parkwind is an independent green energy company that develops, finances and operates offshore wind farms. With more than a decade of experience and 771 MW under operational management in the Belgian North Sea, Parkwind is currently expanding internationally. With active projects at various stages of development, Parkwind has the ambition to further grow its activities in Europe and beyond. Committed to making green energy available and affordable for everyone through its unique approach covering the entire value chain of offshore wind, Parkwind has established itself as a reliable and competitive partner to communities, governments, and suppliers globally. Composed of over 120 professionals operating in Belgium, Germany, Ireland, Norway, Greece, and Australia/New Zealand, Parkwind leads the offshore wind energy activities of its Belgian shareholder Virya, which is owned by the Colruyt Group and Korys.