Copenhagen Infrastructure Partners (CIP), on behalf of Copenhagen Infrastructure Fund IV, has sold its 100% ownership interest in the Travers Solar project to a fund managed by Axium Infrastructure.
Located about 130 km south of Calgary in Alberta, Canada, Travers has a total capacity of 465 MW AC / 691 MW DC. It is the largest non-hydro renewable energy asset in Canada. The project, which represents CIP’s first investment in Canada, started construction in March 2021 and reached commercial operations in November 2022.
“Travers has proved not only a valuable asset but also a significant driver in Canada’s transition to renewable energy,” says Tim Evans, partner, and head of North America at CIP. “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.”
CIBC Capital Markets acted as exclusive financial advisor to CIP on the sale and as joint bookrunner and mandated lead arranger on the project financing. Norton Rose Fulbright acted as legal advisor to CIP.
