Copenhagen Infrastructure Partners announces large-scale project award for next wave of offshore wind in New York
1.3 GW project will deliver billions in economic benefits, create thousands of jobs, and provide clean and affordable energy for more than 700,000 homes
NEW YORK, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Copenhagen Infrastructure Partners, through its development platform Vineyard Offshore, was today awarded 1.3 gigawatts (GWs) in the latest solicitation for offshore wind power held by the New York State Energy Research and Development Agency (NYSERDA). The award allows Vineyard Offshore to commercialize clean and reliable energy through its Excelsior Wind Project located in lease area OCS-A 544 in the New York Bight. The lease area is owned by Copenhagen Infrastructure IV, a fund managed by CIP, a global leader in renewable energy investment.
“This is an important milestone in our goal to deliver large-scale renewable energy and create thousands of new jobs for New York. We are excited to bring our expertise and experience from building Vineyard Wind 1, the nation’s first commercial scale offshore wind farm, to the Empire State,” said partner and Head of North America at CIP, Tim Evans. “I want to thank Governor Hochul and her entire team for forging a viable path forward for our industry and for New York.”
"We are honored that the Hochul Administration has selected our Excelsior Wind Project and thank the Governor for her continued commitment to our industry,” said Vineyard Offshore CEO Lars T. Pedersen. “Excelsior Wind will provide clean and affordable energy, powering both economic growth and improvements in environmental and public health. We are grateful that NYSERDA has placed its trust in our proven ability to deliver projects and look forward to continuing to work alongside with state and local government agencies, Tribal Nations, local communities, fishermen, and other stakeholders in the Empire State."
With a total capacity of 1.3 GWs, Excelsior Wind has the potential to power more than 700,000 homes in New York with clean, reliable, and affordable energy, avoiding up to 1.1 million metric tons annually in carbon pollution, the equivalent to taking 225,000 cars off the road every year.
Led by the most experienced offshore wind team in North America, Vineyard Offshore has crafted the proposal to ensure the deliverability of the project and its associated economic benefits cement and sustain New York as a national hub of the offshore wind industry.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (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 focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
CIP manages 11 funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 400 employees and 12 offices around the world. For more information, visit www.cip.com
About Vineyard Offshore
Vineyard Offshore is leading the development of two lease areas in the Northeast, in addition to a recently acquired lease in Northern California, OCS-P 0562. Lease area OCS-A 522, known as Vineyard Northeast, is located off the coast of Massachusetts. OCS-A 544, known as Vineyard Mid-Atlantic and home to the Excelsior Wind Project, is located in the New York Bight. All three lease areas are owned by funds managed by Copenhagen Infrastructure Partners (CIP). Combined with its joint venture development of the first-in-the-nation offshore wind project, Vineyard Wind, now under construction, Vineyard Offshore has the potential to develop more than 6 gigawatts of clean, renewable and affordable energy on the East and West Coasts of the United States. To learn more, visit: www.vineyardoffshore.com
For further information, please contact:
Oliver Routhe Skov, Head of Media Relations
Phone: +45 30541227
Thomas Kønig, Partner – Investor Relations
Phone: +45 7070 5151
Andrew Doba, Vineyard Offshore
Phone: (646) 242-4869
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