ABB_id2059
in News Departments > New & Noteworthy
print the content item

Danish pension company PensionDanmark, via the fund Copenhagen Infrastructure I managed by Copenhagen Infrastructure Partners (CIP), has made a $200 million investment in the Cape Wind offshore wind farm.

Following 12 years of development, Cape Wind anticipates financial closing and beginning of construction of the 468 MW project, slated for Nantucket Sound, by year-end.

"This important investment is a milestone in the Cape Wind project. We are pleased to welcome PensionDenmark and CIP into the project as experienced investors in offshore wind," says Cape Wind President Jim Gordon.

"We are delighted to participate in the Cape Wind project. Investing in energy infrastructure is not new to us,” explains Torben Möger Pedersen, CEO of PensionDanmark. “We have made equity investments in two offshore wind farms in Denmark and three onshore wind farms in the U.S. and provided debt financing for onshore wind parks in Sweden and Belgium. At a time when bond yields are very low, this is expected to be an attractive investment opportunity for us."

In addition to the PensionDanmark funding, Cape Wind will be financed through a combination of equity from investors and loans from banks and other institutions. The Japanese Bank of Tokyo-Mitsubishi UFJ is coordinating in-debt financing for the project.



Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015