Danish investment firm Copenhagen Infrastructure Partners (CIP) on Friday announced a partnership for the development of over 1,800 MW of renewable energy projects in India, primarily those in the onshore wind segment.
CIP, through its Copenhagen Infrastructure New Markets Fund I (CI NMF I), signed a framework agreement with Indian developer and balance-of-plant contractor Viviid Renewables Private Limited to work on delivering the pipeline.
The first to come out of the partnership are two onshore wind projects totalling over 500 MW. Additional projects are expected to be developed and constructed through successor CI NMF funds, the Danish infrastructure investor said.
The roles are split as follows: Viviid will contribute projects from its development pipeline to the partnership, serve as developer on key activities leading up to final investment decision and provide design, engineering, procurement and construction services, while CIP will lead off-take sourcing, general procurement and the financing process.
Details on the size of the investment or the planned timeline for the projects were not disclosed.
“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,” Peter Sjontoft, associate partner in CIP, said in a prepared statement.
Added Siddharth Mehra, founder of Viviid: “We are very excited to be partnering with CIP to accelerate delivery of our project pipeline over the coming years. Through this long-term partnership, we aim to further strengthen our contribution to India’s ambitious target of installing 500GW of generation capacity from renewable sources by 2030.”
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