Renewables investment firm Copenhagen Infrastructure Partners (CIP) has acquired an 850MW solar PV portfolio from Spanish developer Soltec in Denmark.
The projects – which will be held by CIP’s fund Energy Transition Fund I (CI ETF I) – are at an early stage of development with CIP’s intention to develop, build and operate the assets.
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This marks CIP’s first acquisition of Danish solar PV assets which will enable the company to use the electricity generated for its Power-to-X projects under development in the country such as Fjord eSAF or Høst’s green hydrogen/ammonia.
Even though the PV projects are scattered throughout Denmark, most of them will be located in the Jutland peninsula, which borders Germany.
Felix Pahl, partner in CIP, said: “We are certain that CIP can accelerate the development of the portfolio by committing to work closely with local stakeholders to deploy renewable energy projects in Denmark. CI ETF I aims to make a positive contribution to the green transition and Power-to-X industry by developing world leading capabilities in Denmark.”
Last month, the Danish fund manager launched its second Growth Market Fund for emerging renewables markets which seeks to raise US$3 billion in financing and expects the fund to deliver around 10GW of renewable capacity.
