CIP invests in floating offshore wind specialist Stiesdal Offshore

Denmark’s Copenhagen Infrastructure Partners (CIP) has bought a minority stake in the floating offshore wind specialist of Danish technology firm Stiesdal A/S in a move that will enable Stiesdal Offshore to expand its presence and offerings on the global market.

The acquisition was carried out by the Danish infrastructure investor’s CI V fund, Stiesdal announced on Wednesday, without disclosing financial details about the transaction.

The strategic partnership between CIP and Stiesdal Offshore will have a pivotal role in establishing the offshore technology company as a “long-term leader” in the floating wind industry, the announcement says. Stiesdal Offshore, which currently focuses on the design and development of floating foundations, will now work to grow its business to serve as a one-stop shop for floating wind projects by offering owner’s engineering services and full-service project support and execution. Those solutions will be available for various types of foundation technology.

Furthermore, Stiesdal Offshore's future plans envisage launching several development initiatives that aim to lower the costs of floating wind turbine installation.

Commenting on CIP’s investment, Stiesdal Offshore’s CEO Peder Nickelsen said that the infrastructure fund’s participation will help Stiesdal Offshore strengthen its market position and prepare for large-scale commercial deployment of floating offshore wind in the coming years.

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