Cape Wind Nets $200 Million Investment From Danish Company

NA Windpower, Tuesday 18 June 2013 - 16:58:12

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.





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