Today, Soltec Power Holding and CIP announced CIP's 100% ownership acquisition of the Soltec Danish solar PV project portfolio.
COPENHAGEN, Denmark, Jan. 03, 2024 (GLOBE NEWSWIRE) -- CIP's Energy Transition Fund I (CI ETF I) will obtain 100% ownership of Soltec's Danish early-stage solar PV portfolio. CIP's intention is to develop, build and operate these assets to provide renewable electricity for 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 in CIP, commented: "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 CEO of Soltec, commented: "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."
About Soltec Power Holdings
Soltec Power Holdings (ticker: 'SOL') is a company that specializes in vertically integrated solutions in the solar photovoltaic power sector and is strongly committed to innovation and sustainability. Headquartered in Murcia, the company was established in 2004 and currently operates in 16 countries, its presence being strong in Spain, North America and Latin America. The company has been listed in the Spanish Stock Exchange since 2020.
Soltec structures its activity via three large business units: i) the PV Project Development Division, which has a strong environmental, social and good governance commitment ii) the Industrial Division (Soltec is the world's third largest solar tracker manufacturer), which provides further construction services to its clients to ensure a complete and integrated value proposition; and iii) Soltec Asset Management, through which Soltec manages the assets in its portfolio in order to maximize its benefits in the medium and long terms.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world's largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
CIP manages ten funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 500 employees and 12 offices around the world. For more information, visit www.cip.com
For further information, please contact:
E-mail: media@cip.com
Oliver Routhe Skov, Head of Media Relations
Phone: +45 30541227
Email: orsk@cip.com
Thomas Kønig, Partner - Investor Relations
Phone: +45 7070 5151
Email: tkon@cip.com
