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Copenhagen Infrastructure Partners (CIP) has made a Final Investment Decision (FID) to invest in a 300 MW onshore wind project through its Growth Markets Fund I (CI GMF I), along with Viviid Renewables (Viviid).
Located in Karnataka, this project will benefit from favorable wind conditions and good site accessibility. There is also an existing grid connection close to the project. The construction is scheduled to be completed by the end of 2025.
The wind farm will be jointly developed and constructed by CIP and Viviid.CIP has also signed a turbine supply agreement for the EN 156 3.3MW turbines with Envision Wind Power Technologies India Private Limited and a foundation and crane supply contract with Sanghvi Movers. Viviid, with a minority ownership in the project, will provide the balance-of-plant works and services.
India aims for 500 GW of renewable energy by 2030, doubling the current 250 GW. CIP, active in India since 2021, collaborates with AmpIn Energy Transition and Viviid, establishing a Mumbai office. Future plans include expanding partnerships, exploring offshore/nearshore wind, hydrogen, and related projects, anticipating significant renewable generation capacity growth.
RPV Prasad, CEO, Envision Wind Power Technologies India said, “It is a proud moment for us as we partner with CIP to leverage the enormous wind energy potential in Karnataka. As part of our commitment to the Atmanirbhar Bharat vision, we would be assembling the Nacelle and Hubs at our Pune factory, Blades from our own / vendors factory, and sourcing tower components from our manufacturers in Maharashtra. The booming Indian wind energy landscape would play a pivotal role in propelling the country towards net-zero.”
Mr. Kane Xu, Global Vice President of Envision Energy and Chairman of Envision Energy India, added, “It has become imperative for us to collaborate and accelerate green energy transition to avert the climate crisis. This partnership is a testament to our long-term commitment in solving the challenges for a sustainable future. Together, we can develop reliable renewable energy solutions in India.”
“Achieving FID is a significant milestone for CIP and for our partnership with Viviid. It is testament to our industrial approach and ability to deliver large scale renewable energy projects with highly competent partners”, noted Peter Sjøntoft, Associate Partner in 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.”
