CIP, Parkwind and NorSea swing pension fund partner behind Norwegian floating wind foray

Copenhagen infrastructure partners (CIP), developer Parkwind and local offshore industry provider NorSea have forged a partnership to pursue floating offshore wind projects in Norway.

CIP has also teamed up with Norwegian pension fund KLP as a strategic co-investor in the venture, in a bid to underpin a wider societal contribution.

The companies aim to take part in the build-up of the Nordic country’s offshore wind sector, with its target to install 30GW by 2040 – and at first eye the 1.5GW auction round later this year for the Utsira North floating wind area.

The partnership “will substantially strengthen our foothold in Norway and provide us with a strong platform to aid the development and growth of the Norwegian offshore wind industry over the next decade as well as the creation of local industry, innovation, and local jobs”, said Nischal Agarwal, partner at CIP.

Mathias Van Steenwinkel, head of M&A, origination & tenders at Parkwind, added: “The combination of expertise and resources coming from this consortium is bound to lead to innovation, local value creation to the transition to a sustainable future.”

The government in Oslo has also made clear that it wants to build up a strong local value chain and offshore wind industry.

“CIP, with their experience, forward-leaning renewable technologies, and financial capacity, will further strengthen our partnership and bring capabilities that will help ensure a high quality and competitive application and development of Utsira Nord,” NorSea Impact chief executive Kristin Gjertsen said.

“The inclusion of KLP as CIP’s strategic co-investor, further underlines the Norwegian position, and our main ambition to build a strong Norwegian industry developing offshore wind for the future.”