January 24, 2023
Copenhagen Infrastructure Partners (CIP) has offered its 100% possession curiosity within the Travers Solar undertaking in Alberta, Canada, to a fund managed by Axium Infrastructure. Terms of the deal weren’t disclosed.
Located about 130 km south of Calgary, Travers Solar has a complete capability of 465 MWac / 691 MWdc and is the most important non-hydro renewable energy asset in Canada. The undertaking, which represents CIP’s first funding in Canada, began building in March 2021 and reached business operations in November 2022. The undertaking delivers clear energy to greater than 100,000 households in Alberta.
“Travers has proved not only a valuable asset but also a significant driver in Canada’s transition to renewable energy,” mentioned Tim Evans, accomplice and head of North America at CIP. “The sale of Travers is evidence of the value created by CIP during the development, financing, and construction phases of this marquee renewable energy asset. The consummation of this transaction advances CIP’s commitment to a sustainable future.”
The transaction closed earlier this week after receiving regulatory and different customary closing circumstances and approvals.
CIBC Capital Markets acted as unique monetary advisor to CIP on the sale and as joint bookrunner and mandated lead arranger on the undertaking financing. Norton Rose Fulbright acted as authorized advisor to CIP.
Founded in 2012, CIP is among the many world’s largest devoted fund supervisor inside greenfield renewable energy investments and a world chief in offshore wind. The funds managed by CIP deal with investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capability, storage, superior bioenergy and Power-to-X.
CIP manages 10 funds and has to-date raised roughly $20.6 billion (USD) for investments in energy and related infrastructure from greater than 140 worldwide institutional traders. The agency has roughly 400 staff and 11 places of work all over the world.
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Tags: acquisition, Axium Infrastructure, Canada, Copenhagen Infrastructure Partners, Travers Solar, utility-scale