Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund I (CI GMF I), has officially approved the investment for a 300 MW onshore wind project in India. This collaborative venture involves Viviid Renewables, an Indian company specializing in both development and balance-of-plant services.
Hatalageri Onshore wind farm – Project Details
The Hatalageri wind project is situated in the Indian state of Karnataka, benefiting from favourable wind conditions, convenient site accessibility, and proximity to an existing grid connection.
With the construction phase anticipated to conclude by the end of 2025, this venture marks the initial project under the collaboration between CIP and Viviid. In January 2023, both companies entered into a framework agreement aiming to develop a minimum of 1.8 GW of renewable energy projects in India.
According to CIP, both companies have already commenced additional project developments, which will be realised through the Copenhagen Infrastructure Growth Markets Fund II. CIP and Viviid will work together to develop and construct the wind farm.
As part of the investment decision, CIP has placed equipment orders covering the entire project capacity and Viviid will be responsible for balance-of-plant works and services, holding a minority ownership stake in the project.
Suggested Reading: Balance of Plant (BoP) Contract: What is it? How it Works?
Related Project and News – Other wind farm projects around the world:
- Vestas awarded contract to deliver 242 wind turbines for SunZia Project in New Mexico, USA
- Sabanci Renewables chooses Bechtel to deliver Oriana Solar Farm Project in Texas
- Nordex will supply 18 wind turbines (106MW) to Capital Energy for the Mareas wind farm projects in Zaragoza, Spain
- Australia starts consultation process for new offshore wind development area in Tasmania
Hatalageri Onshore wind farm – Leadership Comments
CIP Leadership - Peter Sjøntoft, Associate Partner at CIP
“Achieving FID is a significant milestone for CIP and for our partnership with Viviid. It is a testament to our industrial approach and ability to deliver large-scale renewable energy projects with highly competent partners,” said Peter Sjøntoft, associate partner at CIP.
“We look forward to continuing the successful collaboration and realizing these projects, which contribute to local growth and job creation while delivering attractive returns for our fund investors.”
Viviid Renewables - Siddharth Mehra, Founder
We are elated to embark on this first 300 MW wind farm project with CIP and look forward to accelerating the development of renewable assets in India. Viviid will leverage its expertise in wind farm development, including balance-of-plant equipment supplies and services. Through this long-term partnership, we aim to further strengthen our contribution to India’s ambitious target of installing 500 GW of generation capacity from renewable sources by 2030.”
Copenhagen Infrastructure Partner Funds - CI GMF I and CI GMF II
India is a cover market for CI Growth Markets Fund’s strategy. Since its entry into the Indian market in 2021, CIP has forged partnerships with AmpIn Energy Transition and Viviid, establishing an office in Mumbai.
CIP confirmed it aims to expand its presence in the Indian market further, collaborating with existing and potential new partners. The plan includes building and commissioning several gigawatts of renewable generation capacity in the coming years.
Additionally, CIP is exploring opportunities in adjacent technologies like offshore/nearshore wind, hydrogen, and others.
CI GMF I
Copenhagen Infrastructure Growth Markets Fund I K/S (CI GMF I) achieved its first close with USD 700 million in May 2019. The fund was oversubscribed and reached its final close in November 2019 with total commitments reaching USD 1.0 billion, surpassing the initial target fund size.
CI GMF I focuses primarily on investing in greenfield renewable energy infrastructure projects in rapidly growing economies across Asia and Latin America and specific countries in Eastern Europe characterized by scale, growth, and liquidity.
Operating under a ten-year term and employing a “build-and-exit” strategy, the fund engages in late-stage development, finances construction, and ultimately divests its assets upon achieving operational status.
CI GMF II
Copenhagen Infrastructure Growth Markets Fund II SCSP (CI GMF II) was launched in December 2023 with a targeted fund size of USD 3 billion. CI GMF II is dedicated to investing in large-scale and intricate greenfield renewable energy infrastructure projects situated in high-growth middle-income markets. These markets are characterized by robust fundamentals for renewable development and substantial potential for positive impact.
The fund aims to focus on 15 carefully selected high-growth middle-income markets across Asia (this project), Latin America, and EMEA, including countries such as India, Vietnam, the Philippines, Mexico, and South Africa.
CI GMF II holds ownership stakes in a diversified portfolio of attractive development-stage projects spanning offshore wind, onshore wind, solar PV, battery storage, and Power-to-X, collectively representing more than USD 5 billion in potential commitments. This surpasses the initial target fund size of USD 3 billion.
