CIP’s Energy Transition Fund Acquires Soltec’s Danish Solar PV Portfolio

' (CIP) Energy Transition Fund I (CI ETF I) has completed the acquisition of 100% ownership of Soltec's early-stage PV portfolio in . The strategic move aligns with CI ETF I's plan to develop, build, and operate these assets to generate renewable for its Danish Power-to-X projects, including Fjord eSAF and Høst green ammonia/hydrogen.

The acquired portfolio encompasses development projects with a combined potential installed capacity of approximately 850MWDC. These projects are distributed across various locations in Denmark, with the majority situated in Jutland.

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Felix Pahl, Partner at CIP, expressed pride in making CIP's first acquisition of Danish solar PV energy. Pahl emphasized that the Soltec portfolio provides an attractive opportunity for CI ETF I to acquire power generation assets in development, facilitating the advancement of Power-to-X projects in Denmark. He highlighted CIP's commitment to collaborating closely with local stakeholders to expedite the development of projects in the region.

“We are certain that CIP can accelerate the development of the portfolio by committing to work closely with local stakeholders to deploy renewable energy projects in Denmark. CI ETF I aims to make a positive contribution to the green transition and Power-to-X industry by developing world-leading capabilities in Denmark. The Soltec portfolio can become one of CI ETF I's steps towards driving local growth and value to the CI ETF I investors,” said Pahl.

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Raúl Morales, Chief Executive of Soltec, expressed satisfaction with the agreement, emphasizing the company's recognition and global experience. He highlighted the quality of the projects provided to CIP and underscored the significance of the collaboration as a testament to trust in Soltec. Morales affirmed Soltec's commitment to providing industrial-level support during the development of the projects.

The acquisition marks a strategic move in the renewable energy sector, furthering CI ETF I's commitment to contributing to the green transition and advancing Power-to-X capabilities in Denmark.

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