Vestas, a Denmark-based wind turbine-maker has announced the acquisition of 25% stake in Copenhagen Infrastructure Partners (CIP), a dedicated fund manager in renewable energy projects, for €500m.
The stake acquisition in CIP is expected to expand the presence of the Danish company across renewable project development and to invest in areas renewables value chain lying beyond its existing activities.
Copenhagen Infrastructure Partners primarily focuses on raising long-term institutional capital and to develop and de-risk large-scale energy infrastructure projects. It encompasses project origination, investment selection, through to construction and asset management.
Copenhagen Infrastructure Partners managing partner Jakob Baruël Poulsen said: “The transaction marks a major milestone for CIP and our investors.
“It strengthens CIP’s position as a market pioneer and global leader within renewable energy investments and complements our industrial know-how with an even stronger capacity to innovate, lead, and enhance the deployment of institutional capital into investments in the global energy transition towards a net zero carbon economy.”
Vestas has agreed to invest in ‘Energy Transition Fund’, a CIP managed fund, as an anchor investor. The fund will focus on developing Power-to-X and other technologies that have the potential to expand the deployment of renewable energy across energy systems.
As part of the deal, Vestas has agreed to engage in discussions on strategic direction of CIP, but it will not involve in decision making, investment, or project level, along with wind turbine supplier selection.
Vestas group president and CEO Henrik Andersen said: “The global transition towards a decarbonised energy system demands increased deployment of renewable energy, and more extensive supportive infrastructure.
“As a leader in sustainable energy solutions, Vestas is determined to play a role in driving this transformation, but to do so, we must increase our involvement across the renewable value chain and benefit from value creation across technology providers, developers, and owners.
“Our investment in Copenhagen Infrastructure Partners enable us to achieve both goals, and to maximise the market potential signalled by our new development business unit. I’m therefore very excited to begin this new journey with a global leader like CIP.”
