CIP acquires ownership of Soltec’s Danish solar PV portfolio

CIP’s Energy Transition Fund I (CI ETF I) has made complete acquisition of Soltec’s Danish solar PV portfolio. The projects are in early stage.

According to CIP, it plans “to develop, build and operate these assets to provide renewable electricity for CI ETF I’s Danish Power-to-X projects.”

The portfolio comprises development projects with a combined potential installed capacity of ~850MWDC, it said. The projects are located in Denmark.

Felix Pahl, partner at CIP, was quoted in a statement, "We are proud to have made CIP’s first acquisition of Danish solar PV energy. The Soltec portfolio represents an attractive opportunity for CI ETF I to acquire power generation assets under development, thereby enabling our Power-to-X projects under development in Denmark.”

He further stated that CIP plans to accelerate the development of the portfolio, and implement renewable energy projects in Denmark.

"The Soltec portfolio can become one of CI ETF I’s steps towards driving local growth and value to the CI ETF I investors," Pahl added.

Meanwhile, Raúl Morales, the chief executive of Soltec, remarked, "We are very satisfied with this first agreement reached with CIP, a company with a great recognition and experience worldwide, to which we have been able to provide with high quality projects under development in Denmark, to contribute to its growth.”