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Green light for construction of British wind farm

Construction of the British off-shore wind farm, Beatrice, has been given the green light. PensionDanmark has invested in the project via Copenhagen Infrastructure fund I & II.

The DKK 18,5 bn British wind farm, Beatrice, in Scotland has been given the green light for construction, after owners – Copenhagen Infrastructure Partners (35 pct.), SSE (40 pct.) and SDIC Power (25 pct.) – reached financial close today. 

Via the funds Copenhagen Infrastructure I & II, PensionDanmark expects to invest a total of DKK 2.8 bn in the project, allocating DKK 2 bn to Copenhagen Infrastructure I and approximately DKK 0.8 bn to Copenhagen Infrastructure II.   

Situated in the Outer Moray Firth, the wind farm will consist of 84 wind turbines, and is anticipated to supply up to 450.000 households with power. Beatrice is Scotland’s largest private infrastructure project.  

Today’s decision signals a go-ahead for the construction of the wind farm. Work on the operation- and maintenance facility and transmission network will be initiated this year. Offshore construction will commence in 2017. The wind farm is planned to be fully operational in 2019.

“The investment in the Beatrice-project is PensionDanmark’s first investment in a British off-shore wind farm. The investment will provide our members with attractive and stable returns in the next many years. At the same time we contribute to the climate agenda as well as Danish export and employment,” says CEO, Torben Möger Pedersen, PensionDanmark.

In addition to Beatrice, PensionDanmark has invested - either directly or through Copenhagen Infrastructure I and II – in wind farms in the US, Denmark, Germany and the UK.