LogIn LogOut

Cbus Buys 10% in Australia's 2.2GW Offshore Wind Farm

June 2, 2022

Credit: Global Image Archive/AdobeStock
Credit: Global Image Archive/AdobeStock

 Australia’s building and construction industry super fund Cbus has agreed to acquire a 10% interest in Copenhagen Infrastructure Partners' (CIP) Australian offshore wind project, Star of the South. 

This follows Cbus’ investment into CIP’s flagship fund, CI IV. CI IV is the majority owner of Star of the South.

CIP specializes in energy infrastructure investments, and is one of the largest developers of offshore wind projects globally.  

Star of the South is Australia’s most progressed offshore wind project, to be located off the south coast of Gippsland in Victoria, with a capacity of up to 2.2 GW. 

"The new partnership demonstrates confidence in Victoria’s offshore wind sector, with Star of the South forging the way for a new local industry to deliver a clean energy boost, create thousands of jobs and reduce carbon emissions," CIP said.

"Star of the South aims to deliver on the Victorian Government’s strong policy ambition for offshore wind, with the Government targeting at least 2 GW of offshore wind capacity by 2032 and up to 9 GW by 2040, establishing an entirely new clean energy sector in Victoria. Offshore wind will transform energy supply in Victoria, complementing other forms of power generation," CIP said.

According to CIP, star of the South alone has the potential to power around 1.2 million homes and supply up to 20% of Victoria’s electricity needs while creating jobs and investment in the Gippsland region.




Current News

Portugal's EDP to Scale Up Offshore Solar Plants in Southeast Asia

Portugal's EDP to Scale Up Offshore Solar Plants in Southeast Asia

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

India Imposes A Windfall Tax On Oil Producers and Export Duties For Oil Products

Russia to Replace Sakhalin-2 Project Operator with New Firm

Russia to Replace Sakhalin-2 Project Operator with New Firm

State Agency Wants Net-zero Carbon Emissions from Australia's Giant LNG Plant

State Agency Wants Net-zero Carbon Emissions from Australia's Giant LNG Plant

Gazprom Cancels Dividend for First Time Since 1998. Shares Drop

Gazprom Cancels Dividend for First Time Since 1998. Shares Drop

Offshore Helicopters: Bristow in Long-term Maintenance Support Deals for AW139 Fleet

Offshore Helicopters: Bristow in Long-term Maintenance Support Deals for AW139 Fleet

China Moves to Buy More Russian Oil, but Will it Help or Hinder?

China Moves to Buy More Russian Oil, but Will it Help or Hinder?
photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com