Copenhagen Infrastructure Partners’ (CIP) Flagship Fund’s interconnector portfolio has officially been included among the short list of projects assessed for regulatory approval in the U.K., in the so-called Third Cap and Floor Window.
CIP acquired close to full ownership in the 4.2 GW subsea interconnector portfolio in late 2022 from U.K. developer Volta Partners. The portfolio consists of three interconnector development opportunities connecting the U.K. with Denmark (Aminth), Belgium (Cronos) and Germany (Tarchon), respectively, expected to reach a final investment decision in 2026 and start of operations between 2030 and 2032.
All three projects received their U.K. interconnector licenses earlier this year and were officially included in the list of eligible Third Cap and Floor Window projects by the U.K. Office of Gas and Electricity Markets this week. The projects will now progress through a more detailed financial and technical assessment, with the initial project assessment award anticipated in Q3.
“Interconnectors play a critical role in enabling the energy transition, creating the flexibility to harness ever greater amounts of renewable energy, while ensuring energy security through a connected system,” says Otto Jager, partner at CIP. “The North Sea is uniquely positioned with the potential to deliver much of Europe’s future power, and Aminth, Cronos and Tarchon are key components to deliver on European energy policy objectives and help build out the full potential of the North Sea.”