Denmark-based Copenhagen Infrastructure Partners (CIP) has acquired the 374MW onshore wind portfolio Monegros in Aragon, Spain, for an undisclosed sum.
The company executed the deal through its fund Copenhagen Infrastructure III (CI-III). CIP has also started construction works of the first projects, with a total capacity of 113MW.
CIP senior partner Christian Skakkebæk said: “We are very pleased to announce our acquisition of the Monegros portfolio, as our first investment in Spain.
“This achievement would not be possible without the strong support of our local partner, Forestalia, and the close cooperation with GE Renewable Energy and the BoP contractors Copsa, Elecnor and GES.
“We look forward to the project coming online, to create local jobs and help reduce carbon emissions by delivering clean, renewable wind energy.”
Monegros windfarm is a combination of nine individual projects that have a combined power generation capacity of 374MW and feature 99 wind turbines from GE Renewable Energy.
CI-III will fund the entire wind portfolio with an investment of more than €350m. All projects are expected to commence their operations by the first half of 2020.
Additionally, the entire portfolio was developed with local renewable energy developer Forestalia. The Balance of the Plant (BoP) will be executed by Copsa, Elecnor and GES.
In addition to the supply of the turbines, GE Renewable Energy has also agreed to provide operational and maintenance services for the turbines, under a long term service agreement.
The power generated by the wind facility will be supplied to the Spanish wholesale market and would be enough to power more than 300,000 households annually.