An unnamed fund managed by Axium Infrastructure has acquired the Travers Solar project in Western Canada from a Copenhagen Infrastructure Partners (CIP) fund.
The asset 465MWac capacity asset, located south of Calgary in Alberta was acquired from Copenhagen Infrastructure Fund IV for an undisclosed sum.
Cyrille Vittecoq, VP and CIO of Axium Infrastructure said the investment further expands Axium’s renewable energy portfolio in North America and increases the firm’s footprint in Alberta.
IN June 2021, CIP and Greengate Power Corporation announced that construction has begun on Travers Solar, the largest solar photovoltaic project ever constructed in Canada. The total expected capital cost was C$700m (€481m).
The project, which represented CIP’s first investment in Canada, reached commercial operations in November 2022.
Tim Evans, partner and head of North America at CIP, said: “Travers has proved not only a valuable asset but also a significant driver in Canada’s transition to renewable energy. The sale of Travers is evidence of the value created by CIP during the development, financing, and construction phases of this marquee renewable energy asset.
“The consummation of this transaction advances CIP’s commitment to a sustainable future.”
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