CIP sells interest in 196-MW Bearkat I wind farm in Texas
Wind turbines in Texas. Author: Will De Freitas. License: Creative Commons, Attribution-NonCommercial-NoDerivs 2.0 Generic.
Danish fund manager Copenhagen Infrastructure Partners P/S (CIP) said on Tuesday it has sold its entire equity interest in the 196-MW Bearkat I wind farm in Texas.
The asset was sold by Copenhagen Infrastructure II (CI II) to Terna DEN, a wholly-owned unit of Greek renewable power producer Terna Energy (ATH:TENERGY), for an undisclosed sum. However, CIP noted that as part of the transaction, the fund will finance USD 63 million (EUR 57m) of the purchase price by entering into a mezzanine loan with Terna DEN.
CIP is also an investor in the 162.2-MW Bearkat II onshore wind farm in Texas. It announced its intention to make a net equity investment of about USD 80 million in that project in March 2019. The completion of that wind park is scheduled for December 2019.