Copenhagen Infrastructure Partners invests in 162.2 MW onshore wind farm in Texas

Copenhagen Infrastructure Partners (“CIP”) will, through the fund Copenhagen Infrastructure II K/S (“CI-II”), make a net equity investment of approximately 80m USD for the construction of Bearkat II onshore wind farm in Glasscock County, Texas.

The wind farm will consist of 47 V126-3.45 MW Vestas turbines for a total capacity of 162.2 MW. Bearkat II is expected to commence commercial operations in December of 2019 and qualifies for 100% of Production Tax Credits (“PTC”). One or more tax equity investors will enter the project at commercial operations and will be providing the remaining capital.

Bearkat II has been co-developed with the Dallas-based developer TriGlobal Energy. The Balance of the Plant (“BOP”) will be executed by Black & McDonald, a leading BOP contractor in the North American onshore wind market. Vestas will provide operational and maintenance services for the turbines via a 30-year service agreement. The project will sell its generated power to the ERCOT power market.

“We are very pleased to announce our investment in the Bearkat II wind project, which demonstrates our continued commitment to investing in best-in-class renewable energy projects in the U.S. This achievement would not be possible without the support of our local partner, TriGlobal Energy, and the continued cooperation with Vestas and Black & McDonald. We look forward to the project coming online later this year to create local jobs and help reduce carbon emissions by delivering clean, renewable wind energy,” says Christian Skakkebæk, Senior Partner at CIP.

Bearkat II represents what will be the fifth project in a larger portfolio of US onshore wind assets which CI-II has invested in, with an aggregate capacity of 821 MW. The project is expected to generate electricity equivalent to the electricity consumption of more than 56,000 average US households a year.

For any further information, please contact:

Lise Holmegaard Larsen
Copenhagen Infrastructure Partners
Phone: +45 70 70 51 51
e-mail: cip@cip.dk
Webpage: www.cip.dk

Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners P/S (“CIP”) is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and waste-to-energy, transmission and distribution, and other energy assets like reserve capacity and storage. CIP has approximately 75 employees. CIP and its projects have offices in Copenhagen, the US, the UK, Germany, and Taiwan.

CIP manages four funds and has around EUR 6.8bn under management. CI I and CI A have PensionDanmark as founding- and sole investor, while CI II has 19 Danish and international institutional investors. The most recent fund, CI-III, had final close in March 2018 with EUR 3.5bn in capital commitments from 42 investors comprised of institutional investors from the Nordics, Continental Europe, Israel, the UK, Australia, Asia, and multi-lateral organizations e.g. EIB.

CIP was founded in 2012 by senior executives from the energy industry in cooperation with PensionDanmark.

2019-03-11T10:17:02+00:00 March, 11th, 2019|