Copenhagen Infrastructure Partners (CIP), a Danish investment company, has announced the sale of its entire ownership in Travers Solar, a 465MWac/ 691MWdc project. For an undisclosed amount, the stake was sold to a Canadian fund run by Axium Infrastructure. The deal was concluded by CIP on behalf of its Copenhagen Infrastructure Fund IV. Located about 130 km south of Calgary, Alberta, Travers Solar began commercial operations in November 2021. It can provide clean energy to over 100,000 households in the region.
Reportedly, the project is Canada’s largest non-hydro renewable energy asset and was CIP’s first investment in the country. CIBC Capital Markets served as the financial advisor to CIP for the deal, as well as a joint bookrunner and mandated lead arranger on the project financing. In addition, Norton Rose Fulbright acted as legal advisor to CIP for the transaction. CIP currently manages ten funds and has raised around $20.7 billion for investments in energy and associated infrastructure to date.
Earlier this month, Statkraft agreed to build 2.2 GW of offshore wind power in Ireland with CIP’s Copenhagen Infrastructure IV K/S (CI IV) fund. At the Bore Array and the North Irish Sea Array (Nisa), the projects would be constructed over the period of three phases. By 2030, they would require a total investment of more than $4.3 billion from Statkraft and CIP. According to the terms of the agreement, CIP would own a 50 per cent stake in Statkraft’s existing Irish offshore wind portfolio.