Cbus acquires 10% stake in CIP's 2.2-GW Australian offshore wind farm

June 2, 2022
Cbus Super has acquired a 10% interest in Copenhagen Infrastructure Partners' (CIP) Australian offshore wind project, Star of the South.

Offshore staff

COPENHAGEN, Denmark  Cbus Super (Cbus) has acquired a 10% interest in Copenhagen Infrastructure Partners' (CIP) Australian offshore wind project, Star of the SouthAustralia’s first offshore wind project.

This follows Cbus’ investment into CIP’s flagship fund, Copenhagen Infrastructure IV (the majority owner of Star of the South).

CIP specializes in energy infrastructure investments and is one of the largest developers of offshore wind projects globally, and Cbus is an Australian building and construction industry super fund.

Star of the South is Australia’s most progressed offshore wind project, to be located off the south coast of Gippsland in Victoria, with a capacity of up to 2.2 GW.

The new partnership demonstrates confidence in Victoria’s offshore wind sector, with Star of the South forging the way for a new local industry to deliver a clean energy boost, create thousands of jobs and reduce carbon emissions.

Star of the South aims to deliver on the Victorian government’s strong policy ambition for offshore wind, with the government targeting at least 2 GW of offshore wind capacity by 2032 and up to 9 GW by 2040, establishing an entirely new clean energy sector in Victoria. Star of the South alone has the potential to power about 1.2 million homes and supply up to 20% of Victoria’s electricity needs while creating jobs and investment in the Gippsland region.