CIP sheds 456-MW Canadian solar park with Amazon PPA to Axium
Solar park in Texas, US. Image by: Copenhagen Infrastructure Partners.
Copenhagen Infrastructure Partners (CIP) announced on Tuesday it has offloaded its 100% stake in the 456-MW/691-MW DC Travers solar park in Canada to a fund managed by Montreal-based Axium Infrastructure.
The transaction, the value of which was not disclosed, was completed earlier this week after the receipt of all needed regulatory permits.
Located around 130 km south of Calgary, Alberta, the photovoltaic (PV) park is currently the largest non-hydro renewable power site in Canada. About 1.3 million monocrystalline bifacial PV panels by Jinko Solar Canada are powering the complex. It was brought online in November 2022 and is able to generate enough electricity to supply more than 100,000 local homes.
US e-commerce giant Amazon.com Inc (NASDAQ:AMZN) signed a corporate power purchase agreement (PPA) in 2021 to offtake up to 400 MW of the solar farm’s output.
The Travers Solar project was originated by Calgary-based developer Greengate Power Corporation. Danish fund manager CIP entered the project in early 2020 through a commitment to provide funding for the plant’s development, construction and operation. Construction works were initiated a year later.
“The consummation of this transaction advances CIP’s commitment to a sustainable future,” said Tim Evans, partner and head of North America at CIP.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.