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On November 21, Vice State President Vo Thi Anh Xuan embarked on a diplomatic visit to Copenhagen Infrastructure Partners (CIP) headquarters in Copenhagen, Denmark.
Vestas, the world’s largest maker of wind turbines, has taken a 25 percent stake in the renewable asset manager Copenhagen Infrastructure Partners (CIP).
The €500 million ($612 million) deal will include an upfront payment of €180 million, followed by €320 million as a performance-based earn-out.
CIP runs seven funds, with a total of €14 billion under management. That portfolio represents 20 major, large-scale projects with 8 gigawatts of capacity. Another 20 greenfield projects will close finance in the next three years, according to CIP.
Vestas said the deal would enable it to “further expand its presence in renewable project development” including across other renewable technologies.
CIP has stakes in onshore and offshore wind projects as well as solar, energy storage, transmission and waste-to-energy projects. It has a 35 percent stake in the Beatrice offshore wind farm in the U.K. The 588 MW operational project was awarded a contract for difference, guarantee