GE wind turbine. Source: General Electric. All rights reserved.
Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure III K/S (CI-III), has confirmed the acquisition of the 374-MW Monegros portfolio of onshore wind projects in the Spanish region of Aragon.
The Monegros portfolio was developed by Spanish renewable energy company Forestalia Renovables SL which sold it to CIP early this summer, according to a report by Aragon-based newspaper Heraldo de Aragon.
The package consists of nine separate projects and a total of 99 wind turbines to be supplied by GE Renewable Energy. The Denmark-based investment firm has already started building 113 MW of capacity, it said Wednesday.
The total equity investment in the portfolio is expected to go above EUR 350 million (USD 385.1m) with the fund CI-III providing 100% of it.
All wind farms are expected to start commercial operations in the first half of 2020. They will sell their output on the Spanish wholesale market.
GE Renewable Energy said in a separate statement that it will provide operation and maintenance (O&M) services for the turbines for 20 years.
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