In an announcement, Copenhagen Infrastructure Partners (CIP), said that it has sold off its 100% stake in the 456 MW/691-MW DC Travers solar park in Canada, to Montreal-based fund manager, Axium. It is earlier this week that the transaction got completed, but the transaction amount is yet to be disclosed.
In 2021, US based e-commerce company, Amazon.com Inc, had signed a power purchase agreement (PPA) to offtake up to 400 MW of the solar farm's output. This also gets transferred to Axium.
Situated about 130 km to the south of Calgary, Alberta, the solar park ranks among the largest non-hydro renewable power site in Canada. The park uses about 1.3 million monocrystalline bifacial PV panels developed by Jinko Solar. Brought online in November 2022, the park provides electricity to over 100,000 local houses.
Expressing his view at the sale, Partner and Head of North America at CIP, Tim Evans said "The consummation of this transaction advances CIP's commitment to a sustainable future."
This solar park was originally held by Calgary-based developer Greengate Power Corporation. Later in 2020, CIP came in to provide funding for the park's development, construction and operation. And within a year, the construction had begun.
Meanwhile, way back in 2021, Akuo Energy and CIP had struck a joint venture partnership for Indonesian renewables market (see Indonesian RE Joint Venture For Akuo & CIP)