Vestas will start a fund at Copenhagen Infrastructure Partners to encourage Power-to-X development, but will not be involved in decision making for the fund. Credit: Matt Artz on Unsplash.

Wind turbine manufacturer Vestas has acquired a 25% stake in investment management company Copenhagen Infrastructure Partners (CIP).

Under the deal, Vestas will acquire the stake for $612m (€500m). This includes $220m (€180m) as an upfront payment and $391m (€320m) as an earnout.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Vestas will invest in a new ‘Energy Transition Fund’ managed by CIP as an anchor investor. The fund will focus on the development of Power-to-X technologies, among others.

This will create a platform for value creation, allowing the company to access returns generated by renewable energy projects. Additionally, the investment will increase the company’s focus on development through the launch of a new dedicated development business unit.

A Vestas spokesperson said the company aims to expand its footprint in renewable project development. It will also invest in areas of the renewables value chain that lie beyond its existing activities.

Vestas Group president and CEO Henrik Andersen said: “Our investment in Copenhagen Infrastructure Partners enable us to achieve both goals, and to maximise the market potential signalled by our new development business unit.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Under the new partnership, Vestas and CIP will collaborate on projects in the early phases of development.

Vestas said it will not grant CIP any other preferential consideration as a customer, in regards to its development pipeline or turbine sales. The company will become part of the CIP board, engaging in discussions, but will not be involved in decision making oin the fund.

Vestas said it will retain the flexibility to work with other wind energy developers, utilities and owners.