CIP backs 1GW Spanish onshore wind portfolio

Danish investors Copenhagen Infrastructure Partners (CIP) has agreed to loan €70 million to fund development expenses and construction equity of a 1GW portfolio of Spanish onshore wind projects.

Spanish renewables developer Capital Energy’s projects are spread across the country and are in late-stage development.

The projects are due to be built and operational between 2023 and 2025.

The loan is the first investment of CIP’s Green Credit Fund I (CI GCF I).

Nicholas Blach-Petersen, CIP partner and co-head of CI GCF I explained: “The financing has been structured to provide capital flexibility for the sponsor and facilitate value creation through development, construction and asset ownership whilst providing GCF I with an attractive investment with a strong credit profile.”