GreenIT and Copenhagen Infrastructure Partners to Develop Two Offshore Wind Farms

GreenIT, the joint venture between Plenitude and CDP Equity for the production of energy from renewable sources, and Copenhagen Infrastructure IV, a fund managed by Copenhagen Infrastructure Partners (CIP), have signed an agreement for the construction of two floating offshore wind farms in Sicily and Sardinia, both located more than 35 km from the coast, with a total capacity of about 750MW.

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The plants foresee the use of floating platforms and the implementation of innovative technological solutions

In detail, the wind farm in Sicily will be developed off the coast of Marsala and will consist of 21 turbines with a power of about 12 MW each and a total capacity of about 250 MW, while the park in Sardinia will be built in the sea area in front of the southwest coast of the island and will consist of 42 wind turbines, with a power of 12 MW each for a total capacity of over 500 MW. Italian companies with proven experience in the development of offshore plants, such as Lilybeo Wind Power for Sicily, and Nice Technology, and 7 Seas Wind for Sardinia, also contribute to the two projects as minority shareholders. The start of operations is currently scheduled for 2026 in Sicily and 2028 in Sardinia, once the authorization phase and subsequent construction have been completed.

The plants foresee the use of floating platforms and the implementation of innovative technological solutions, aimed at minimizing the environmental and visual impact. The initiative will avoid carbon dioxide emissions of about 1 million tons per year. In fact, the two wind farms will produce more than 2,000 GWh/year, which is equivalent to the average annual energy consumption of almost 750 thousand families in the areas involved, and which represents, with the same installed capacity, an increase of about 50% compared to the average production of an onshore wind farm.

GreenIT was founded in March last year and is dedicated to the development, construction, and management of plants for the production of electricity from renewable sources in Italy. Involved 51% by Eni and 49% by Cdp Equity, its purpose is to produce energy mainly from photovoltaic and wind power plants with the aim of reaching an installed capacity by 2025 of about 1,000 MW, with cumulative investments in the five-year period for over $873 million (€800 million). One of the aims of the joint venture is to develop and build greenfield plants, partly through the enhancement of the real estate assets of the CDP Group and the public administration.

At the beginning of March, GreenIT acquired from Gruppo Fortore Energia spa its entire wind power portfolio consisting of four onshore fields operating in Italy with a total capacity of around 110 MW. The transaction includes 55 wind turbines located in Puglia, in an area with high windiness and with repowering prospects among the most interesting in the national market.

CIP, it is a Danish private equity operator specialized in investments in energy infrastructure at a global level and in particular in renewable energy and greenfield projects. CIP currently manages over €16 billion in assets spread across eight private equity funds: CI I, CI II, CI III, CI IV, focusing on energy infrastructure projects in OECD countries; CI New Market Fund I (NMF I), with a focus on energy infrastructure investments in fast-growing large new economies primarily in Asia and Latin America; CI Energy Transition Fund I (ETF I), focusing on next-generation renewable technologies primarily in OECD countries; and CI Artemis I and CI Artemis II with a focus on regulated transmission assets in Germany. These funds were recently joined by CI GCF, CIP’s first debt fund that invests in junior private debt for project financing in OECD markets. The debt fund, launched in December 2021, has already raised $349.3 million (€320 million), thanks to commitments from European and Asian investors, and aims to announce its first funding closing next July and final closing by year-end, with an overall target of $1.09 billion (€1 billion).

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(Featured image by ELG21 via Pixabay)

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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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