Copenhagen Infrastructure Partners (CIP) has officially launched Horizon New Energy, a dedicated platform for renewable energy initiatives in Canada. Headquartered in Calgary, Alberta, Horizon will take charge of developing CIP's existing 1.2GW of development assets in the province, with a primary focus on solar PV, onshore wind, and battery storage projects.
The subsidiary's establishment builds on CIP's successful ventures in Canada, including the completion of Travers Solar (692MWdc), the largest solar project in the country, and the ongoing construction of Buffalo Plains (495MWac), Canada's largest wind project.
Tim Evans, Partner and Head of North America at CIP, expressed excitement about the prospects of Horizon, stating, “As part of CIP's dedicated strategy of investing in growth platforms, we are excited about the prospects and the opportunity to create an established developer of renewable energy projects in Canada.”
Horizon New Energy, as an independent power producer, will own operational projects and a growing pipeline under construction and in development. The platform's development efforts will be spearheaded by Managing Director Shannon Wever, who brings experience from leading renewable energy development at Enmax Energy.
“I am thrilled to join CIP and lead Horizon New Energy in Canada,” commented Wever. “Canada is in the midst of a significant build-out of renewable energy to meet Canada's ambitions of decarbonizing the electricity grid by 2035, so I'm excited by the opportunity to leverage CIP's industrial experience and financial capacity in Horizon's development efforts.”
CIP's Flagship Funds will provide capital for project development and the growth of Horizon New Energy. The intention is for CIP to furnish the required capital for the construction of the projects developed by the company, subject to investment decisions at the time.
