Copenhagen Infrastructure Partners (CIP) has agreed to acquire the 480-megawatt Morecambe offshore wind project in Britain from COBRA Group and Flotation Energy, the fund manager announced.

Located off the Lancashire coast in the Eastern Irish Sea, the fixed-bottom wind farm will generate enough electricity to power over 500,000 homes. The project lease was secured in a UK offshore wind leasing round in 2021, and planning applications have already been submitted.

While the financial details of the transaction remain undisclosed, Flotation Energy, owned by TEPCO Renewable Power, will continue as a development partner post-acquisition.

The British government has set an ambitious target of delivering 43-50 gigawatts (GW) of offshore wind power by 2030 as part of its climate action strategy. The Morecambe project is expected to contribute significantly to this goal.

"By investing in projects like Morecambe, we are strengthening our commitment to accelerating the transition to clean energy," CIP stated.

Image Source: Energy Monitor