Copenhagen Infrastructure Partners and Avangrid secure $2.4 billion financing for Vineyard Wind 1 offshore wind project

Copenhagen Infrastructure Partners (CIP) and joint venture partner Avangrid successfully secured approximately $2.4 billion in financing for the 800 MW Vineyard Wind 1 offshore wind project. The financing package, which reached financial close in August 2021, comprises equity from CIP's CI II and CI III funds, alongside senior loans from a consortium of nine international and U.S. banks. This landmark deal underscores the significant capital commitment required for pioneering large-scale renewable energy infrastructure in the nascent U.S. offshore wind market.

Counterparts (4)

Investor

Copenhagen Infrastructure Partners

company · 1 deals

Copenhagen Infrastructure Partners is a global leader in energy infrastructure investments, specializing in developing and constructing large, complex projects that shape the future of energy. They manage multiple funds focused on greenfield energy investments across various technologies and geographies.

C

Copenhagen Infrastructure II K/S (CI II)

company

C

Copenhagen Infrastructure III K/S (CI III)

company

Partner

Avangrid

company

Avangrid is a diversified energy company focused on renewable energy generation and electricity transmission and distribution. They develop, construct, and operate renewable energy facilities and maintain electricity networks.