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Direct Investment  + Alternative Assets  + M&As  + Real Assets  |  April 16, 2024
CIP Buys 1.3GW NY Onshore Wind Portfolio Acquired via its fifth fund
By: Joe Palmisano

CIP Buys 1.3GW NY Onshore Wind Portfolio

Danish investment firm Copenhagen Infrastructure Partners (CIP) has acquired Liberty Renewables, a 1.3 GW portfolio of onshore wind projects in New York.

CIP completed the acquisition on behalf of its fifth flagship fund, CI V, which has a target size EUR 12 billion ($12.8 billion). The price paid for Liberty Renewables was not disclosed.

“CIP has a strong track record of developing and financing renewable energy projects across multiple markets in the U.S., and we are excited to leverage this expertise for the successful delivery of this portfolio in New York,” said Andy MacCallum, president, Liberty Renewables.

Liberty recently submitted a 94-C application for its inaugural project, Hoffman Falls Wind, to New York’s Office of Renewable Energy Siting. Construction of this project is expected to begin in 2026, while construction of the remaining ones in Liberty’s portfolio is due to start between 2027 and 2030, CIP said.

CIP’s fifth fund has already made two investments and expects additional four investments to follow during 2024.

Founded in 2012, CIP manages 12 funds and has raised about EUR 28 billion ($29.8 billion) for investments in clean energy and associated infrastructure from over 160 institutional investors globally.

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Inside The Story

Copenhagen Infrastructure PartnersLiberty Renewables

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.