Copenhagen Infrastructure Partners (“CIP”) is pleased to announce that the 162.2 MW onshore wind farm, Bearkat II, successfully commenced commercial operations and secured tax equity funding in October 2020.
Bearkat II is located in Glasscock County, Texas and was co-developed with Dallas-based developer Tri Global Energy. The project utilizes 47 V126-3.45 MW Vestas turbines that produce wind power to serve the ERCOT power market. Generated power is sold under a long-term offtake contract with a major U.S. financial institution, which reduces the project’s exposure to underlying power prices.
Construction of the Bearkat II project began in March 2019 and, despite challenging market conditions due to COVID-19, was successfully completed below budget. The project was partially funded by Copenhagen Infrastructure II K/S, with the remaining funding coming from two tax equity investors.
“We are delighted to announce the completion of Bearkat II, the newest addition to our growing portfolio of attractive renewable energy projects. This achievement serves as a testament to the dedication and resilience of the CIP team, our partners, and suppliers to execute throughout the global pandemic. We are proud of this project’s contribution to local jobs and in generating clean wind energy to serve the Texas market,” says Christian Skakkebæk, CIP Senior Partner.
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:
Kelly Bork, Copenhagen Infrastructure Partners
phone: +45 70 70 51 51
Copenhagen Infrastructure Partners P/S is a fund management company with seven energy infrastructure funds and more than EUR 12 billion in commitments under management. CIP is a multinational team with extensive experience and knowledge within renewable technologies. CIP has investments in utility scale renewable assets across North America, Western Europe, and Asia Pacific. The team has a broad range of competencies within corporate finance, merger & acquisitions, engineering, construction, project development and project management. CIP was established in 2012 by senior executives with a proven track record from senior positions in the energy industry. Current investments include a wide range of energy infrastructure assets including offshore wind, onshore wind, offshore power transmission, biomass and energy-from-waste, and solar PV investments.