Cbus partners with CIP on Australian offshore wind project

Australian superannuation fund Cbus and fund manager Copenhagen Infrastructure Partners (CIP) have announced that Cbus has acquired a 10% stake in CIP’s Australian offshore wind project. The “Star of the South” project is located off the coast of Victoria and has a capacity of 2.2GW. According to Cbus: “Star of the South aims to deliver on the Victorian Government’s strong policy ambition for offshore wind, with the government targeting at least 2GW of offshore wind capacity by 2032 and up to 9GW by 2040, establishing an entirely new clean energy sector in Victoria”. Cbus suggested that the project could potentially supply 20% of Victoria’s energy needs.