Copenhagen Infrastructure Partners P/S will invest in Bute Energy Ltd.'s renewable portfolio in Wales through its Copenhagen Infrastructure IV K/S fund.
The portfolio consists of onshore wind and solar projects, and some co-located battery energy storage systems, at various stages of development. The portfolio could have an installed capacity in excess of 2,000 MW by 2030, according to a Feb. 21 news release.
"This investment will allow us to accelerate the development of our portfolio and bring significant supply chain and economic benefits to Wales," Bute Energy Chairman Erik Bonino said in the statement.
Bute Energy expects to start construction on the first projects in 2024. Its first onshore wind planning application will be made in the summer of 2022 for the Twyn Hywel Energy Park, located largely within a pre-assessed area for wind energy, in southeast Wales.
Copenhagen Infrastructure Partners hired Orrick Herrington & Sutcliffe LLP as legal adviser and ITPEnergised as technical adviser. Bute Energy tapped Reed Smith LLP as legal adviser and PKF Francis Clark as financial adviser.