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Danish investor acquires 516MW in US

UNITED STATES: Danish fund manager Copenhagen Infrastructure Partners has acquired two Texan projects from Tri Global Energy for an undisclosed fee.

Tri Global Energy has sold two projects to Copenhagen Infrastructure Partners
Tri Global Energy has sold two projects to Copenhagen Infrastructure Partners

CIP has bought the 366MW Bearkat project in Glassock County in west Texas, and the 150MW Blue Cloud site in Bailey and Lamb counties, north-west Texas. The firm said it was acquired on behalf of the Copenhagen Infrastructure II fund.

Tri Global Energy will continue to assist with the development of the projects towards a final investment decision, CIP said.

The projects are expected online by 2018 to qualify for the production tax credit (PTC). In February, Tim Carbone, president of Tri Global Energy, said the extention of the PTC in December "breathes new life into some of our earlier-to-mid-stage developments".

In 2015, CIP completed fundraising for a €2 billion investment fund known as Copenhagen Infrastructure II.

It is backed by 19 European institutional investors, including some of the continent's largest pension funds.

The fund's main focus is onshore and offshore wind, biomass projects and transmission infrastructure, held for the long term. Investors wanted to avoid potential regulatory risk in emerging markets, so the fund has set its sights on North America and on western and northern Europe.

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