CIP begins construction on two solar projects in US

WCN Editorial Team 3 Sep 2018 NORTH AMERICA ENERGY & UTILITIES

Copenhagen Infrastructure Partners (CIP) has begun construction of the Misae and Sage solar photovoltaic (PV) projects in the US on behalf of the Copenhagen Infrastructure III (CI III) fund.

With a total capacity of nearly 300MW, the two projects are the first of CIP’s 1.1GWac US solar portfolio.

The Misae solar PV project, also known as Childress Solar Park, is a 240MWac project located near the city of Childress in Texas. CIP started construction on this plant on 28 August 2018 after its acquisition earlier in 2018.

Jinko (US) will supply mono-crystalline solar panels and MA Mortenson will be responsible for construction and ongoing maintenance services for the project.

CIP has also entered into a power price hedge with a financial institution for the project, which is one of the first of such hedges for a solar project. Third-party tax equity funding is expected for the project.

Misae, which is expected to commence commercial operations in the fourth quarter of 2019, will generate enough clean energy to power 60,000 houses per year.

The Sage solar PV system is a 58MWac project located in Rich County, Utah, which CIP acquired on behalf of CI III from a local developer in April 2017 and completed development and pre-construction activities.

While RES America Construction (RES) will be responsible for engineering, construction and procurement, First Solar will supply solar modules and provide operation and maintenance services for the project.

The project has already signed a long-term power purchase agreement with PacifiCorp subsidiary, Rocky Mountain Power. This project is also expected to secure third-party tax equity funding.

Commercial operations at Sage are expected to begin in August 2019. It is expected to generate enough clean energy to power 14,000 houses per year.

CIP senior partner Christian Skakkebæk said: “Start of construction on Misae and Sage – the first large scale solar projects in Copenhagen Infrastructure Partners’ renewable energy portfolio – represents an important milestone and demonstrates CIP’s capacity to originate, develop, structure and finance utility-scale energy infrastructure projects across multiple asset classes and technologies.

“The solar projects will provide long-term, stable and predictable cash flows with an attractive risk/return profile for the CI III investors and complement the existing portfolio of investments in onshore and offshore wind and other renewables technologies.”

____________________________________________________________________________________________

Image: CIP begins construction of two solar plants in US. Photo: Courtesy of worradmu/FreeDigitalPhotos.net.

With 11 websites and newsletters covering all the key areas within the construction industry, World Construction Industry Network is the leading global construction information resource. READ ABOUT US
PRIVACY POLICY

STAY IN TOUCH!

LATEST TWEETS

World Construction Network | www.worldconstructionnetwork.com is a product of GlobalData. Copyright © 2020 GlobalData. All rights reserved.