Amberside Energy and Copenhagen Infrastructure Partners (CIP), on behalf of their flagship funds, announced a partnership to develop 2GW of solar and battery storage projects in the UK.
CIP is the world’s largest dedicated fund manager for greenfield investments in renewable energy and has raised around €19 billion for investments in energy and related infrastructure.
As part of the partnership CIP’s flagship funds will provide the capital for project development with the aim of creating a portfolio of scale across different development phases. Subject to investment decisions at this time, CIP intends to provide the capital required to build the projects in this portfolio.
These projects are aligned with the UK’s energy transition towards ‘net zero’ greenhouse gas emissions until 2050. They will also make a significant contribution to increasing energy independence in the UK by providing predictable and affordable clean electricity and decarbonising energy production.
“Solar and battery storage in the UK have become increasingly competitive in recent years and are now among the most cost-effective technologies helping to improve grid flexibility, resilience and increase overall security of supply,” commented Radu Gruescu, Partner at CIP.
The partnership also places a strong emphasis on local community engagement and upholding industry-leading ESG standards.
“We look forward to working closely with AE’s highly experienced team to deliver projects that generate investment, jobs and socio-economic benefits alongside clean energy at competitive prices,” added Gruescu.
Amberside Energy will lead the sourcing and development activities for the solar and battery storage projects. Its proprietary grid model combined with experience in auditing and wealth management is intended to help maximize development efficiency.
CIP will contribute its expertise in sourcing, structuring and financing renewable energy projects.
“We expect our first projects to be ready for construction within the next two years, bringing significant benefits to the communities that host them and generating sustainable green power for many years to come,” said Marc Scambler, co-founder and CEO of Amberside Energy.