Copenhagen Infrastructure Partners (CIP) has acquired a 1300MW portfolio of onshore wind projects in New York, US.
CIP, acting on behalf of its flagship fund, CI V, has acquired Liberty Renewables, which owns a portfolio of greenfield renewable energy projects in the state.
“Onshore wind will play an important role in decarbonizing New York’s power grid and will be critical to achieving its nation-leading renewable targets,” said Tim Evans, partner and Head of North America at CIP.
He added: “We are excited to support New York’s clean energy transition through the acquisition of the Liberty portfolio.”
Liberty Renewables president Andy MacCallum said: “We are delighted to announce this transaction with CIP.
“CIP has a strong track record of developing and financing renewable energy projects across multiple markets in the US, and we are excited to leverage this expertise for the successful delivery of this portfolio in New York.”
Liberty’s inaugural project, Hoffman Falls Wind, recently submitted its 94-C application to New York’s Office of Renewable Energy Siting and is scheduled to commence construction in 2026.
The remaining projects in the portfolio are expected to start construction between 2027 and 2030.
With a target size of €12bn, CIP’s fifth flagship fund, CI V, is set to become one of the largest of its kind globally.
The fund has already made two investments with additional four investments expected during 2024 ensuring fast deployment of capital.