Copenhagen Infrastructure Partners Acquires 1.3GW Onshore Wind Portfolio from Liberty Renewables in New York

Copenhagen Infrastructure Partners Acquires Liberty Renewables, Bolstering New York’s Clean Energy Vision

In a move aimed at accelerating New York’s transition to renewable energy, Copenhagen Infrastructure Partners (CIP) has announced the acquisition of Liberty Renewables, a significant player in the state’s renewable energy landscape.

Through its flagship fund, CI V, CIP has sealed the deal with Liberty Renewables, which boasts a portfolio of greenfield renewable energy projects in New York. Among these projects is a substantial pipeline of approximately 1.3 gigawatts (GW) of onshore wind capacity, slated to commence construction between 2027 and 2030.

The acquisition marks a strategic step for CIP, as New York strives to achieve ambitious clean energy objectives and advance towards economy-wide decarbonization. Tim Evans, Partner and Head of North America at CIP, underscored the importance of onshore wind in this endeavor, stating, “Onshore wind will play an important role in decarbonizing New York’s power grid and will be critical to achieving its nation-leading renewable targets.”

Liberty Renewables is well-positioned to contribute significantly to New York’s clean energy goals, with its portfolio aligning closely with the state’s renewable energy priorities. This acquisition not only strengthens CIP’s presence in the burgeoning renewable energy market but also underscores its commitment to supporting New York’s clean energy transition.

“With a target size of EUR 12 billion, CIP’s fifth flagship fund, CI V, is set to become the largest of its kind globally,” remarked Evans. CI V has already hit the ground running, boasting a large and diversified portfolio of renewable energy infrastructure projects in the development stage. The fund has also secured potential equity commitments totaling EUR 22 billion, reflecting investor confidence in its mission and vision.

Moreover, CI V’s swift momentum is evident, with two investments already made and an additional four investments expected throughout 2024. This robust activity signals CIP’s proactive approach to driving sustainable investment and fostering the transition to a cleaner, greener future.

As New York continues its journey towards a renewable-powered future, partnerships like the one between CIP and Liberty Renewables are poised to play a pivotal role in shaping the state’s energy landscape and facilitating its ambitious decarbonization goals.