Mumbai: Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund (CI GMF), have taken final investment decision (FID) on a 300 MW onshore wind project in India together with Viviid Renewables (Viviid) – an Indian developer and balance-of-plant service provider.
The project is located in Karnataka with favourable wind conditions, good site accessibility and an existing grid connection in relative proximity with construction expected to be completed by 2025-end.
“Achieving FID is a significant milestone for CIP and our partnership with Viviid, while also being a testament to our industrial approach and ability to deliver large-scale renewable energy projects with highly-competent partners,” Peter Sjontoft, Associate Partner in CIP, said while adding “We look forward to continuing the successful collaboration and realizing these projects to contribute to local growth and job creation while delivering attractive returns for our fund investors.”
CIP and Viviid will develop and construct the wind farm jointly. Alongside the FID, CIP has signed a turbine supply agreement for the EN 156 3.3MW turbines with Envision Wind Power Technologies Private Limited, and a foundation and crane supply contract with Sanghvi Movers.
Viviid will provide balance-of-plant works and services, while also holding minority ownership in the project, a release stated.
Expressing pride over partnering CIP in leveraging the enormous wind energy potential in Karnataka, RPV Prasad, CEO, Envision Wind Power Technologies India, said “We would be assembling the Nacelle and Hubs at our Pune factory, Blades from our own vendors factory, and sourcing tower components from our manufacturers in Maharashtra.”
“The booming Indian wind energy landscape would play a pivotal role in propelling the country towards net-zero,” he added.
“It has become imperative for us to collaborate and accelerate green energy transition to avert the climate crisis,” Kane Xu, Global Vice-President of Envision Energy and Chairman of Envision Energy India, said while adding “This partnership is a testament to our long-term commitment in solving the challenges for a sustainable future. Together, we can develop reliable renewable energy solutions in India.”
CIP is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. It has, to date, raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors.
Envision Energy is ranked 4th globally with latest data stating that existing orders for its energy storage systems exceed 15GWh.
