CIP

“Vineyard Wind continues to work with the Bureau of Ocean Energy Management, the Bureau of Safety and Environmental Enforcement, and other relevant stakeholders and authorities in the Administration to understand the matters raised in the Order. However, Vineyard Wind believes the Order violates applicable law and, if not promptly enjoined, will lead to immediate and irreparable harm to the project, and to the communities who will benefit from this critical source of new power for the New England region.”

“Reaching 12 billion euros is a fantastic result and a testament to our proven industrial approach to energy infrastructure investments. I am proud that several of the world's largest and most sophisticated investors are committed to CIP, and I am delighted to once again have the support of our existing investors and welcome many new investors to our platform. […] Massive structural tailwinds are pushing the energy transition forward. Surging electricity demand, fueled by economic growth, widespread electrification and digitalization, requires an unprecedented amount of new energy infrastructure capacity to be built. By combining our industrial and financial expertise, CIP is uniquely positioned to deliver some of the largest, most critical and complex energy projects globally — supporting countries in securing cost-competitive, reliable and clean power, while creating value for our investors at the same time.”

“We remain committed to floating offshore wind which we believe will play an important role in the global energy transition. This investment is a next step in our pursuit of large-scale floating wind projects and together with Stiesdal Offshore we look forward to work towards advancing floating wind technology, overall project execution and cost reduction.”

Vineyard Wind confirmed blade damage on a GE Vernova turbine that occurred on the evening of 13 July 2024. No personnel or third parties were in the vicinity. Vineyard Wind established a safety perimeter and worked with the US Coast Guard to issue notice to mariners. A significant part of the blade subsequently detached. Approximately 17 cubic yards of fiberglass and foam debris were recovered from Nantucket beaches. GE Vernova conducted root cause analysis and attributed the failure to a manufacturing defect involving insufficient bonding that was not caught by quality control. BSEE issued a suspension order halting power production pending assessment.

“The Netherlands is at the forefront of the energy transition with ambitious offshore wind and hydrogen targets and stands out as a pioneer in this field. We at CIP are confident that our strong partnership with Vattenfall will support and contribute to the Netherlands journey towards a carbon-neutral future. The award of IJmuiden Ver Beta is a milestone for CIP's Energy Transition Fund and an important step in realizing an integrated energy system in the North Sea.”

“CIP was a first mover in developing offshore wind in Australia and has been proudly working with local communities, government and industry to kick start an offshore wind industry. We are excited about the prospects of Southerly Ten to expand on CIP's extensive global experience and expertise in offshore wind development.”

“This truly is a milestone for offshore wind and the entire renewable industry in North America. For the first time we have power flowing to the American consumers from a commercial-scale wind project, which marks the dawn of a new era for American renewables and the green transition. By delivering first power, we have broken new ground and shown a viable path forward with power that is renewable, locally produced, and affordable.”

“Our vision is to provide concrete solutions to the global challenge of scaling up renewables. If we want to achieve net-zero carbon emissions by 2050, we will need to scale up the deployment of offshore wind and other renewables to an unprecedented level. Today, the challenge for offshore wind is less about building the incremental offshore wind farm, but more how to integrate large-scale offshore wind energy into the global energy systems. We see energy islands as a key tool in solving this challenge and realizing the ambitious offshore wind targets across the globe.”

“Korea has a vast potential for offshore wind and CIP has, since entering the Korean market in 2018, invested significantly in developing the country's wind power projects in multi-giga watts scale and its supply networks and foster a strong industry ecosystem. We are proud to have reached financial close and entering the construction phase on Jeonnam 1 and we look forward to completing this landmark project together with our partners.”

“Reaching nearly EUR 6 billion at first close is a testament to the importance of the fund, and the confidence placed in our industrial approach to energy infrastructure investments. With its greenfield focus and large and diversified portfolio, CI V has the potential to significantly contribute to, and accelerate the energy transition on a global scale, while generating strong returns for our investors. We believe the market timing for investment of CI V is favourable. The strong and accelerating demand for new renewable infrastructure to secure energy independence and deliver on ambitious climate pledges creates many new investment opportunities.”

“We are very pleased to enter and strengthen our foothold in Portugal's ascending offshore wind market. The Nortada project holds significant potential and provides us with a strong platform to aid the development and growth of the Portuguese offshore wind industry as well as the creation of local jobs.”

“In CIP we have the project pipeline, the capabilities as well as the technological and financial resources to continue to tackle climate change. But we need firmer and more decisive policy instruments to curb CO2 emissions, including increased offshore wind build-out targets and faster approval processes.”

“We believe in building out a good position in the US, where we are constructing 806MW Vineyard Wind 1, which will be the first large-scale commercial offshore wind farm in the US. We also see strong growth in Europe and are active in Australia. We will be globally active. We see Asia as a strong wind market in general.”

“Along with Avangrid Renewables, we have during the previous week achieved the most important milestone for offshore wind in the U.S., and with our partner are excited to lead Vineyard Wind 1 through the construction phase and complete this trailblazing project. Lease area 522 has the highest wind speed of any lease area in the northeast and will be a very competitive site for solicitations from New York to Massachusetts. Continuing to operate with our core leadership team and local staff in place, we can build on the strong relationships and early engagement with all stakeholders that has always been at the core of our development philosophy as we move forward.”

“We are very pleased to welcome a prominent group of existing and new institutional investors to CI IV, and look forward to continuing to create value for our investors, project partners, and communities through the fund's investments in greenfield renewable energy projects. We are delighted that investors share our confidence in and appetite for greenfield renewables and have decided to invest alongside CIP in some of the largest clean energy projects across the globe within offshore wind, onshore wind, solar PV, transmission, and storage.”