Danish fund takes $526m stake in DolWin3 offshore wind park

Danish infrastructure fund management company Copenhagen Infrastructure Partners (CIP) has reached an agreement with transmission system operator TenneT to buy a 67 per cent stake in the 900 MW German North Sea offshore grid connection DolWin3 for $526m via the investment company CI Artemis.

The capital contribution will also give CIP a 49 per cent voting interest in the project, which will link several German offshore wind parks to the mainland. The total construction costs ofà‚ the DolWin3 connection are expected to amount to $2.6bn.

TenneT chief financial officer Otto Jager told Recharge News that his company’s “investment highlights our ability to attract outside equity and solidifies our financial strength. With this transaction TenneT has a sound financial basis to execute its onshore and offshore investment plans.”

The DolWin3 project involves the construction of a 900 MW DC grid connection for wind farms in the south-western part of the German North Sea. The grid connection then runs for another 79km on land to the converter station at Dàƒ¶rpen West, which will serve as the onshore electricity grid coupling point.

The link is expected to be completed by late 2017.

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