MYTILINEOS and CIP to develop offshore wind in Greece – Energy Global

MYTILINEOS, through its Power and Gas Business Unit, Protergia, has signed an agreement with Copenhagen Infrastructrure Partners (CIP), on behalf of its fund CI New Markets Fund I, for the joint co-operation (CIP 60%, MYTILINEOS 40%) in the development of offshore wind parks in sea areas of Greece.

Both companies will contribute to this co-operation, in order to identify appropriate sites and co-develop and co-invest in offshore wind projects, by combining resources and expertise.

CIP is a fund management company specialised in energy infrastructure investments globally, in particular within renewables and the greenfield segment. CIP has approximately 15 billion under management and is the largest dedicated greenfield renewable energy fund globally. CIPs total portfolio of renewables investments is estimated to reduce the equivalent of approximately 10 - 11 million tpy of CO2 and sustainably power approximately 5 - 6 million households each year in the countries where the funds invest.

The principal developer for all the projects to be developed under the CIP-MYTILINEOS co-operation is Copenhagen Offshore Partners (COP), a world leading offshore wind project development, construction and operations company. In collaboration with CIP, COP transfers extensive know-how that boosts the partnership in the increasing competitive offshore wind industry. COP works closely with CIP and since 2015 has been leading the development of numerous offshore wind projects in Germany, UK, Taiwan, US, Australia, Japan, Korea, Vietnam and elsewhere.

Offshore wind is expected to be the largest source of electricity in the EU by 2040. In order for Greece to achieve its national targets, there is an obvious need for a timely and effective legal and regulatory framework.

MYTILINEOS Power and Gas Business Unit aspires to become a catalyst for a low-emission Greek electricity generation mix, by investing in clean energy and innovative applications for a greener future for all. Recently, the company announced the acquisition of a 1.48 GW solar portfolio, as well as a pipeline of storage projects.

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Read the article online at: https://www.energyglobal.com/wind/30062021/mytilineos-and-cip-to-develop-offshore-wind-in-greece/

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MYTILINEOS and CIP to develop offshore wind in Greece - Energy Global