Copenhagen Infrastructure Partners (CIP) has secured a significant minority equity stake in onshore wind developer Bute Energy and grid developer Green GEN Cymru. This investment will enable Bute Energy to unlock its £3 billion portfolio of onshore wind farms across Wales, the developer said.
The deal marks a major milestone in the renewable energy sector, with Bute Energy aiming to become the UK’s largest independent renewable energy generator by 2030. The company’s projects aim to contribute up to 25% of the Welsh Government’s goal of 100% renewable electricity consumption by 2035. Bute Energy also aims to support the UK Government’s target of doubling onshore wind capacity by 2030.
Green GEN Cymru, which is developing a network to distribute clean energy to homes and businesses across Wales, is part of the Welsh Government’s initiative to create at least 1.5GW of locally-owned renewable energy capacity by 2035.
Nischal Agarwal, partner at Copenhagen Infrastructure Partners, commented on the investment, saying: “CIP’s investment in Bute Energy and Green GEN Cymru reflects our confidence in the Welsh renewable sector to deliver much-needed infrastructure to Welsh homes and businesses, to play a full role in meeting national renewable energy targets, and to realize the economic, employment, and community benefits of transitioning our energy systems to a more secure and sustainable footing.”
This deal follows significant progress for both companies. Green GEN Cymru received its Independent Distribution Network Operator (IDNO) license from Ofgem in July, while Bute Energy’s Twyn Hywel Energy Park in Caerphilly was granted consent by the Welsh Government in November.
Stuart George, Managing Director of Bute Energy, expressed pride in the partnership, stating: “This investment is a vote of confidence by one of the biggest global investors in renewable energy in Wales and in Bute Energy’s plans to deliver the single largest investment in onshore wind in Wales.”
Bute Energy plans to submit six projects to the Cabinet Secretary for decision by the summer of 2025, contributing 1GW of new energy capacity, enough to power approximately 1 million homes.
Daryn Lucas, Managing Director of Green GEN Cymru, highlighted the importance of grid infrastructure in supporting Wales’ energy potential, saying: “This significant investment is good news for Green GEN Cymru and good news for Wales.”
The partnership aligns with both the Welsh and UK Governments’ Net Zero targets and aims to support the country’s transition to a low-carbon future.
