CIP divests 49% stake in Spanish wind farm portfolio

Copenhagen Infrastructure Partners Inc., through its €3.5 billion energy infrastructure fund Copenhagen Infrastructure III K/S, entered an agreement to divest a 49% stake in the Monegros onshore wind portfolio to a fund managed by Arjun Infrastructure Partners Ltd.

The portfolio consists of 12 onshore wind farms with a total installed capacity of 487 MW in Aragon, Spain.

The construction phase of the Monegros projects is now nearing completion on time and within budget, according to a March 4 news release.

Power output from the portfolio has been contracted under a long-term power purchase agreement and in July 2020 a consortium of six banks committed a debt package of approximately €380 million available for drawdown once the wind farms reach commercial operations.

The transaction will become effective once the entire portfolio has entered commercial operations. Copenhagen Infrastructure III will continue to fund the remaining construction cost of the projects.

Following closing of the transaction, Copenhagen Infrastructure III will remain the controlling shareholder and operator of the Monegros portfolio.