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Copenhagen Infrastructure Companions (CIP) has signed an settlement to accumulate a majority share in Elgin Power and can, with Elgin’s retained administration workforce, make investments £250 million into Elgin.
The funding will allow Elgin to grow to be an Impartial Energy Producer (IPP), says CIP.
It added that Elgin’s present 15 GW undertaking pipeline masking stand-alone photo voltaic, photo voltaic plus BESS and stand-alone BESS is supported by growth actions within the U.Okay., Eire and Australian markets.
“Elgin is an ideal match for CIP’s funding technique given its robust management and tradition, market main growth experience, prime quality pipeline of scale and important development potential in markets with enticing fundamentals,” says CIP’s Nischal Agarwal. “We’re nicely positioned to assist Elgin in reworking into an IPP with our experience in procurement and development.”