Copenhagen Infrastructure Partners (CIP) has signed an agreement to acquire a majority share in Elgin Energy and will, with Elgin’s retained management team, invest £250 million into Elgin.
The investment will enable Elgin to become an Independent Power Producer (IPP), says CIP.
It added that Elgin’s current 15 GW project pipeline covering stand-alone solar, solar plus BESS and stand-alone BESS is supported by development activities in the U.K., Ireland and Australian markets.
“Elgin is a perfect fit for CIP’s investment strategy given its strong leadership and culture, market leading development expertise, high quality pipeline of scale and significant growth potential in markets with attractive fundamentals,” says CIP’s Nischal Agarwal. “We are well placed to support Elgin in transforming into an IPP with our expertise in procurement and construction.”
