1. CIP to acquire majority share in Elgin Energy and invest £250 million.
2. Elgin has delivered close to 2 GW of ready-to-build solar PV and storage projects.
3. CIP’s fifth flagship fund aims to invest in wind, solar, and energy storage technologies globally.
Copenhagen Infrastructure Partners (CIP) has acquired a majority share in Elgin Energy, investing £250 million into the company. This partnership will enable Elgin to become an Independent Power Producer (IPP) and grow its team and project pipeline. With CIP’s industrial approach and Elgin’s development expertise, the goal is to transform Elgin into a fully integrated solar and storage company. Elgin has already delivered close to 2 GW of solar PV and storage projects and has a pipeline of 15 GW across the UK, Ireland, and Australia.
The agreement between CIP and Elgin is seen as a strategic partnership that aligns with Elgin’s vision to become the leading European solar company. With CIP’s support, Elgin aims to create over 100 new jobs and accelerate towards a net-zero future. CIP’s fifth flagship fund, CI V, with a target size of €12 billion, will invest in a range of technologies including wind, solar PV, and energy storage across Europe, North America, and the Asia Pacific region.
The latest issue of Energy Global magazine covers the partnership between CIP and Elgin, as well as other technical articles and industry news. It discusses how battery storage sites can address curtailed energy, the state of renewables in Europe, and various topics such as electrical infrastructure, turbine monitoring, battery storage technology, and coatings.