Copenhagen Infrastructure Partners (CIP), on behalf of Copenhagen Infrastructure Fund IV, is pleased to announce that it 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 MWac / 691 MWdc and 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. Today, Travers delivers clean energy to more than 100,000 households in Alberta, Canada.
“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,” says Tim Evans, Partner, and Head of North America at CIP.
The transaction closed earlier this week after receiving regulatory and other customary closing conditions and approvals.
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.