Copenhagen Infrastructure Partners (CIP) has announced that it has entered into an agreement to divest a 49% stake in the Monegros onshore wind portfolio to a fund managed by Arjun Infrastructure Partners (Arjun).
The Monegros portfolio consists of 12 onshore wind farms with a total installed capacity of 487 MW located in Aragon, Spain. Monegros is part of Copenhagen Infrastructure III K/S (CI-III), a EUR 3.5bn energy infrastructure fund managed by CIP.
The power output from the Monegros portfolio has been contracted under a long-term PPA. Following closing of the transaction, CI-III will remain controlling shareholder and operator of the Monegros portfolio and CI-III will continue to fund the remaining construction cost of the Monegros portfolio. Watson Farley & Williams and FIH Partners advised CIP on the transaction. White & Case and Evercore advised Arjun.