CIP finances 1 GW onshore wind portfolio in Spain

Copenhagen Infrastructure Partners’ Green Credit Fund I has signed a financing agreement with Capital Energy, a large Spanish renewables developer. CI GCF I will provide a EUR 70m holdco loan facility to fund development expenses and construction equity of a 1.0 GW portfolio of onshore wind assets in Spain in late-stage development. The projects are distributed throughout Spain and are expected to be built and operational between 2023 and 2025.

“CIP are delighted to be partnering with Capital Energy and contribute to the development and construction of a portfolio which will eventually provide clean energy to up to 350,000 households in Spain. This transaction represents CI GCF I’s first investment and is the first of a very strong pipeline of transactions to close. The financing has been structured to provide capital flexibility for the sponsor and facilitate value creation through development, construction and asset ownership whilst providing GCF I with an attractive investment with a strong credit profile”, says Nicholas Blach-Petersen, CIP Partner and Co-Head of CI GCF I.