Offshore Wind in Estonia and Latvia: Orrick Advises Copenhagen Infrastructure Partners on Partnership with Ignitis Renewables
2 minute read | August.07.2023
Copenhagen Infrastructure Partners (CIP), a global leader in renewable energy investments, and Ignitis Renewables, a subsidiary of renewables-focused integrated utility Ignitis Group, have agreed to collaborate on offshore wind in Estonia and Latvia.
THE COMPANY
CIP is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. CIP has raised approximately €25 billion for investments in energy and associated infrastructure from more than 140 international institutional investors. The funds managed by CIP focus 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.
Ignitis Group is one of the largest energy groups in the Baltic region.
THE IMPACT
The partnership leverages CIP’s global offshore wind expertise and the Ignitis Group’s leading market position in the Baltic region. CIP and Ignitis, together with their affiliates, aim to contribute to energy transition in the Baltic region, supporting Estonia and Latvia’s decarbonization targets and energy security ambitions through offshore wind.
“With today’s announcement, we are taking an important step in contributing to a sustainable and secure energy future for the Baltic region through our New Markets Fund,” CIP Partner and Head of the New Markets Fund, Ole Kjems Sørensen, said.
Evan Stergoulis, Co-Head of Orrick’s Global Renewables practice said: “With our long-standing relationship , we are delighted to have supported Copenhagen Infrastructure Partners on yet another exciting project that will bring positive change.”
THE TEAM
Orrick’s Evan Stergoulis led the team advising CIP with support from David O'Donovan.