Danish investment firm Copenhagen Infrastructure Partners (CIP) has partnered with India-based company Viviid Renewables to develop more than 1.8GW of renewable energy capacity in India.
CIP signed the agreement via its Copenhagen Infrastructure New Markets Fund I (CI NMF I).
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The partners will initially focus on developing two onshore wind farms with a total capacity of more than 500MW.
The remaining capacity will be developed and built by CI NMF’s successor funds.
CIP associate partner Peter Sjøntoft said: “This is the second CI NMF I partnership in the Indian renewable energy market, reflecting India’s continuing importance as a key focus area for the fund.
“With this partnership, we are significantly strengthening our foothold in India and are delighted to partner with Viviid and look forward to working alongside their highly experienced team, combining our joint expertise to assist the green transition in the country.”
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By GlobalDataViviid has agreed to provide projects from its development pipeline, as well as deliver key development activities up to a final investment decision.
The company has also agreed to offer design, engineering, procurement and construction services for the projects.
CIP will be responsible for offtake sourcing, general procurement activities and the financing process, for which it will make use of Viviid’s local experience.
Viviid Renewables founder Siddharth Mehra said: “We are very excited to be partnering with CIP to accelerate the delivery of our project pipeline over the coming years.
“Through this long-term partnership, we aim to further strengthen our contribution to India’s ambitious target of installing 500GW of generation capacity from renewable sources by 2030.”
CIP manages ten funds in the areas of offshore and onshore wind, solar power, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy and Power-to-X.
Last month, the company partnered with Amberside Energy to develop 2GW of solar and battery storage capacity in the UK.
