CIP’s Energy Transition Fund I (CI ETF I) has acquired 100% ownership of Soltec’s Danish early-stage solar PV portfolio.
The investor’s intention is to develop, build and operate these assets to provide renewable electricity for CI ETF I’s Danish Power-to-X projects (e.g., Fjord eSAF, Høst green ammonia/hydrogen).
The portfolio consists of development projects with a combined potential installed capacity of ~850MWDC.
The project sites are scattered across Denmark, with the vast majority of the projects situated in Jutland.
Felix Pahl, partner at CIP, said: “We are proud to have made CIP’s first acquisition of Danish solar PV energy.
“The Soltec portfolio represents an attractive opportunity for CI ETF I to acquire power generation assets under development, thereby enabling our Power-to-X projects under development in Denmark.
“We are certain that CIP can accelerate the development of the portfolio by committing to work closely with local stakeholders to deploy renewable energy projects in Denmark.
“CI ETF I aims to make a positive contribution to the green transition and Power-to-X industry by developing world leading capabilities in Denmark.
“The Soltec portfolio can become one of CI ETF I’s steps towards driving local growth and value to the CI ETF I investors.”
Raúl Morales, the chief executive of Soltec, added: “We are very satisfied with this first agreement reached with CIP, a company with a great recognition and experience worldwide, to which we have been able to provide with high quality projects under development in Denmark, to contribute to its growth.
“Without any doubt, this is a great sign of trust in Soltec, and they will have our support at an industrial level during the development of the projects.”