Amberside Energy and Copenhagen Infrastructure Partners (CIP) have announced a partnership to develop 2GW of solar and battery storage projects in the UK. Amberside said it expects the first projects to begin construction within two years.
Amberside Energy will continue to lead origination and development activities for the projects while CIP will contribute its expertise in procurement, structuring and financing renewable energy projects.
CIP’s Flagship Funds will provide the capital for project development with the ambition of creating a portfolio that, over time, will have projects in operation, in construction as well as under development. Subject to investment decisions at the time, CIP intends to provide the capital required for the construction of the projects in this portfolio.
“UK solar and battery storage have become increasingly competitive in recent years and are now some of the most cost-efficient technologies, contributing to enhancing grid flexibility, resilience and increasing the overall security of supply. We look forward to working closely with AE’s highly experienced team to deliver projects that in addition to clean power at competitive prices also generate investment, jobs, and socioeconomic benefits,” said Radu Gruescu, Partner at CIP.
“Our origination and development efforts are well underway, and our proprietary grid model combined with experience gained from auditing and asset managing such schemes helps maximise the efficiency of the development process” said Marc Scambler, co-founder and chief executive of Amberside Energy.