NEW YORK, NY (July 1, 2020) – An affiliate of Copenhagen Infrastructure Partners (“CIP”) has entered into an agreement to sell the output from the planned 400 MW Panther Grove Wind Energy Facility in Illinois to AEP Energy.
A fund managed by CIP acquired the project (formerly known as Woodford Wind) in December 2019 from Dallas-based renewable energy developer, Tri Global Energy. The project – which is located in Woodford County, Illinois – is planned to start construction in early 2021 and begin commercial operation in late 2022. During construction, the project is estimated to create approximately 250 full-time jobs, and once operational, is expected to create nearly 20 full-time jobs and produce enough clean electricity to power nearly 150,000 households per year.
“We are pleased to announce this long-term renewable energy purchase agreement between the Panther Grove wind project and AEP Energy. This is an important milestone and the transaction highlights the strength of the project and the growing demand for green energy. We are excited to work with AEP Energy and our local partners to create local jobs and bring clean, reliable wind energy to the state of Illinois,” says Christian Skakkebæk, Senior Partner at CIP.
AEP Energy will use the power from Panther Grove to serve customers who want clean energy for their retail supply—including Google. The Panther Grove project will contribute a renewable source of power for Google’s recently announced New Albany, Ohio, data center, which AEP Energy will supply and match load on an annual basis with 100% renewable energy from new resources.
About the Companies
AEP Energy, a subsidiary of American Electric Power (NYSE: AEP), is a certified competitive retail electricity and natural gas supply provider operating in 28 service territories in six states and Washington, D.C. AEP Energy supplies electricity and natural gas solutions for more than 500,000 residential and business customers and takes pride in making it easy for customers to buy, manage and use energy. Based in Columbus, Ohio and Chicago, Illinois, AEP Energy is committed to excellence by serving customers with value, innovation and many years of industry experience.
Tri Global Energy is an independent renewable energy originator and developer in the U.S. The company is a leading wind developer in Texas and is among the top five in the U.S. for projects under construction. Nearly 3,500 megawatts of TGE’s development projects are either in financing, construction or operation, including wind, solar and energy storage projects.
Founded in 2009, Tri Global Energy’s mission is to improve communities through local economic development generated by originating and commercializing renewable energy projects. The company currently develops and owns utility-scale wind and solar energy projects in Texas, Nebraska, Illinois, Indiana and Virginia. Tri Global Energy is headquartered in Dallas with regional development offices in Lubbock, Texas; El Paso and Forreston, Illinois; and Reynolds and Hartford City, Indiana. For more information, visit www.triglobalenergy.com.
About 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 energy-from-waste, transmission and distribution, and other energy assets like reserve capacity and storage. CIP has approximately 110 employees and offices in Copenhagen, Taipei, New York, Tokyo, Utrecht, and London.
CIP manages six funds and has more than EUR 8 bn under management. CI I, CI A I and CI A II have PensionDanmark as founding- and sole investor. CI II has 19 Danish and international institutional investors and CI III has 42 institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and multi-lateral organizations e.g. EIB. CI NMF I has 15 investors from the Nordics and Continental Europe.
CIP was founded in 2012 by senior executives from the energy industry in cooperation with Pension Denmark.