CIP sells Canadian solar farm

Jan 25, 2023 10:21 AM ET
  • The 465 MWac/691 MWdc Travers project has actually been gotten by an Axiom Infrastructure Fund
CIP sells Canadian solar farm
Image: Asia Chang/Unsplash

Copenhagen Infrastructure Partners (CIP), in support of Copenhagen Infrastructure Fund IV, has sold its 100% ownership interest in the Travers Solar project to a fund handled by Axium Infrastructure.

Located about 130 kilometres south of Calgary in Alberta, Canada, Travers has a complete capacity of 465 MWac/691 MWdc as well as is the biggest non-hydro renewable energy asset in the country.

The project, which represents CIP's initial investment in Canada, started construction in March 2021 and also reached commercial operations in November 2022.

Today, Travers delivers clean power to greater than 100,000 households in Alberta, Canada.

CIP partner and also head of North America Tim Evans claimed: "Travers has actually confirmed not just a valuable asset yet additionally a considerable motorist in Canada's transition to renewable energy.

" The sale of Travers is evidence of the value developed by CIP during the advancement, funding, as well as building and construction phases of this marquee renewable energy asset.

" The consummation of this deal breakthroughs CIP's commitment to a lasting future."

The transaction closed previously today after receiving governing and other popular closing conditions and also approvals.

CIBC Capital Markets functioned as unique monetary advisor to CIP on the sale and as joint bookrunner and also mandated lead arranger on the project funding. Norton Rose Fulbright served as lawful advisor to CIP.

Source:
renews.biz

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