CIP divests its ownership of the Mitchell solar portfolio

Copenhagen Infrastructure Partners, through its fund Copenhagen Infrastructure II K/S, is pleased to announce that it has entered into definitive agreements to divest its ownership of the Mitchell solar portfolio to a wholly owned subsidiary of TransAlta Corporation, a developer, owner, and operator of electrical power generation assets across the United States, Canada and Australia.

The Mitchell solar portfolio consists of 20 project sites with a total installed capacity of 122 MW located in North Carolina, USA. The facilities are all fully commissioned and operational as of May 2021.

“We are pleased to announce the sale of Mitchell to TransAlta, which evidences the value created by CIP during the development, financing and construction phases of this high-quality portfolio. We are confident the consummation of this transaction further advances our mutually shared commitment to a sustainable future” says Christian Skakkebæk, Senior Partner at CIP.

“This acquisition marks an important and significant expansion of our solar footprint in the United States and is a natural fit for TransAlta Renewables given our focus on diversified, highly-contracted cash flows from strong counterparties,” said Todd Stack, President of TransAlta.

The transaction is expected to close later this year, subject to regulatory and other customary conditions and approvals.

KeyBanc Capital Markets and Norton Rose Fulbright supported CIP on the transaction.

About Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners P/S is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, and other energy assets like Power-to-X. CIP has approximately 200 employees and offices in Copenhagen, Hamburg, New York, Tokyo, Utrecht, and London.

CI NMF invests primarily in greenfield renewable energy infrastructure projects in fast-growing economies across Asia and Latin America as well as certain countries in Eastern Europe where CI NMF sees scale, growth, and liquidity.

CIP manages eight funds and has approximately EUR 16 billion under management. PensionDanmark was founding and sole investor in CI I and CI A I. Today CIP’s funds have approximately 100 international institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and North America and multi-lateral organizations e.g. EIB.

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

For further information, please contact: 

Kelly Bork, Copenhagen Infrastructure Partners, phone: +45 70 70 51 51, e-mail: cip@cip.dk  

Webpage: www.cip.dk