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New Partner for Beatrice

6 November 2014

Copenhagen Infrastructure Partners has bought a 25% stake in the 664MW Beatrice offshore wind project in Scotland from SSE Renewables.

Following the acquisition, SSE will own a 50% share, down from 75%, while development partner Repsol will maintain its 25% holding.

SSE said the terms of the agreement reflect the costs of developing the consented project, which lies 13.5km off the Caithness coast, to its current stage and the deal aligns with the strategic review the company made of its offshore wind portfolio in March.

SSE added that the move “secures an additional strong partner to take the project forward to a final investment decision”.

Beatrice project director Brian McFarlane said: “The project has continued to make significant progress since our review of offshore development projects, achieving consent and securing an Investment Contract from the UK government.

“Whilst there is still a significant amount of work to be done, this latest milestone allows the project to continue progressing towards a final investment decision in 2016.”