Copenhagen Infrastructure Partners (CIP) has entered an agreement with Indian developer Viviid Renewables to develop over 1800MW of renewable projects in the country.
The partnership will initially focus on the development of two onshore wind projects with a combined capacity of more than 500MW.
CIP will act through its Copenhagen Infrastructure New Markets Fund I (CI NMF I).
Additional projects are expected to be developed and constructed through successor CI NMF funds.
Viviid will contribute projects from its extensive development pipeline to the partnership, as well as deliver key development activities up to Final Investment Decision as well as providing design, engineering, procurement, and construction services.
CIP will lead offtake sourcing, general procurement activities and the financing process while leveraging Viviid’s local experience.
Peter Sjontoft, Associate Partner at CIP, commented: “This is the second CI NMF I partnership in the Indian renewable energy market, reflecting India’s continuing importance as a key focus area for the fund. With this partnership we are significantly strengthening our foothold in India and are delighted to partner with Viviid and look forward to working alongside their highly experienced team, combining our joint expertise to assist the green transition in the country.”
Siddharth Mehra, founder of Viviid, added: “We are very excited to be partnering with CIP to accelerate delivery of our project pipeline over the coming years. Through this long-term partnership, we aim to further strengthen our contribution to India’s ambitious target of installing 500GW of generation capacity from renewable sources by 2030.”