CIP buys 850MW early-stage solar projects from Soltec in Denmark

Home » News » CIP buys 850MW early-stage solar projects from Soltec in Denmark

Danish investment firm Copenhagen Infrastructure Partners (CIP) has bought a portfolio of about 850 MW (direct current) of early-stage photovoltaic (PV) solar projects in Denmark from Spanish vertically integrated solar energy specialist Soltec Power Holdings.

CIP’s Energy Transition Fund I (ETF I), acquired a 100% stake in the bundle for an undisclosed price.

Most of the project sites are concentrated in the Jutland region, with others spread out throughout Denmark. The portfolio includes development projects with a combined potential installed capacity of 850MW. According to Soltec, Copenhagen Infrastructure Partners aims at developing, building and operating the solar farms to deliver electricity for the fund’s power-to-X projects in Denmark.

A win-win deal

Soltec CEO Raul Morales expressed satisfaction with this first agreement reached with Copenhagen Infrastructure Partners, which he commended for being a company of great recognition and experience worldwide, to which they have been able to provide with high quality projects under development in Denmark, hence contributing to its growth.

Also read: Neoen starts construction of 24.7-MW trio solar projects in Italy

Felix Pahl, a partner at CIP, highlighted that they are proud that CIP made its first acquisition of Danish Solar PV energy and is certain that CIP’s can accelerate the development of the portfolio by committing to work closely with local stakeholders to set up renewable energy projects in Denmark.

Green future

He adds that Copenhagen Infrastructure’s Energy Transition Fund I aims at making a positive contribution to the green transition and power-to-X industry by setting pace for world leading capabilities in Denmark. Most importantly it isdriving local growth and value to the Copenhagen Infrastructure Energy Transition Fund I investors through this Soltec portfolio. Last January (2023), CIP chose DNV to carry out technical safety and sustainability assurance of a Power-to-X plant in Denmark, located in Esbjerg. The HOSET facility aims to produce green ammonia from a hydrogen feedstock using a 1GW electrolyser.

Soltec is headquartered in Murcia, Spain, and currently operates in various locations around the world, such as Spain, North America and South America.