Copenhagen Infrastructure Partners (CIP) has through the fund Copenhagen Infrastructure II provided a $61m mezzanine loan for the construction of the onshore wind park Fluvanna in Scurry County, Texas. PensionDanmark is one of the 19 Danish and international institutional investors behind the fund Copenhagen Infrastructure II. The total cost of the wind park will be $251m.
Fluvanna I is owned and will be operated by Terna Energy S.A. The wind farm will consist of 74 2.1 MW Gamesa turbines for a total project rated output of 155 MW. Fluvanna I is expected to commence commercial operations in Q4, 2017. Terna Energy is a member of the GEK TERNA Group and is focusing on renewable energy development and production. Terna Energy has 1 GW of wind power in operation or under construction.
“The investment in the Fluvanna I project is PensionDanmark’s fourth investment in American wind farms. The investment will provide our members with attractive and stable returns in the next many years. At the same time we contribute to the climate agenda,” says CEO, Torben Möger Pedersen, PensionDanmark.
Copenhagen Infrastructure Partners and Terna Energy S.A. intend to jointly develop more wind farms in Texas, starting with the Fluvanna II wind project adjacent to Fluvanna I that is expected to be 130 MW.