Copenhagen Infrastructure Partners announced as provisional winner of lease area in California offshore auction

COPENHAGEN, Denmark, Dec. 07, 2022 (GLOBE NEWSWIRE) -- On December 7^th, Copenhagen Infrastructure Partners (CIP) through its fund CI IV and its affiliate California North Floating, LLC has been announced as the provisional winner of lease area OCS-P 0562 in the auction held by the United States Bureau of Ocean Energy Management (BOEM).

The auction was the first-ever offshore wind lease sale on the US West Coast and the first-ever US sale to support potential commercial-scale floating offshore wind energy development. A total of five offshore wind energy leases off the central and northern California coast were auctioned off and the area won by CIP has a potential capacity of more than 1.0 GW.

CIP Senior Partner Torsten Smed said, "California is expected to develop into a key market for floating offshore wind and the auction represented a strong investment opportunity for us. By adding the new lease area to our portfolio and based on our large global portfolio of floating offshore projects in different stages of development we are uniquely positioned to lead the commercialisation of floating offshore wind in the US."

Since entering the US offshore market in 2016, CIP has built a leading offshore wind position through its affiliate Vineyard Offshore. This includes Vineyard Wind 1, the country's first commercial scale offshore wind project which is currently under construction, as well as two lease areas under development totaling approximately 5.0 GW off the coast of Massachusetts and New York.

"The future of offshore wind is floating, and we are proud to have taken this first important step in building an attractive floating offshore pipeline off the US West Coast," continued Mr. Smed. "We look forward to supporting the ambitious offshore goals of the State of California and do our part in ensuring the local job creation and the environmental improvements that will benefit the entire state."

About Copenhagen Infrastructure Partners
Founded in 2012, CIP today is the world's largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore- and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, Power-to-X and advanced bioenergy.

CIP manages ten funds and has to date raised approximately EUR 19 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. CIP will accelerate its role in the global energy transition and aims to have EUR 100 billion under management in green energy investments by 2030. CIP has approximately 400 employees and 11 offices around the world. For more information, visit www.cip.dk