Copenhagen Infrastructure, Viviid to Develop 1.8 GW of Renewable Projects in India
The partnership will develop two onshore wind projects of 500 MW capacity
Copenhagen Infrastructure Partners (CIP), on behalf of its New Markets Fund I (CI NMF I), has entered into a partnership with Viviid Renewables to develop more than 1.8 GW of greenfield renewable energy projects in India.
Initially, the partnership will concentrate on two onshore wind projects with a combined capacity of over 500 MW. These projects will be developed with the help of the CI NMF funds, and the partnership plans to construct them soon.
As part of the partnership, Viviid will provide projects from its development pipeline and take responsibility for critical development activities up to the final investment decision. It will offer design, engineering, procurement, and construction services.
CIP will oversee the sourcing offtake, procurement activities, and financing process while leveraging Viviid’s local experience.
“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,” said Peter Sjøntoft, Associate Partner in CIP.
CIP manages ten funds and has raised approximately €19 billion (~$21.3 billion) for investments in energy and associated infrastructure from more than 140 international institutional investors.
Viviid provides end-to-end development and balance of plant services for wind and solar projects across India.
Last October, CIP entered into a partnership with Ørsted to develop around 5.2 GW of offshore wind in Denmark across four projects.
In February last year, CIP led a consortium of partners to build a 500 MW green hydrogen project in Spain. The consortium consisting of CIP, Enagas, Naturgy Fertiberia, and Vestas, said the first phase of Project Catalina had reached an advanced stage of development. Catalina Phase 1 will comprise 1.7 GW of wind and solar energy facilities and a 500 MW electrolyzer. Construction is planned to start at the end of 2023.