Copenhagen Infrastructure Partners has entered into a framework agreement through its Copenhagen Infrastructure New Markets Fund I (CI NMF I) with Viviid Renewables Private Limited, an Indian developer and BOP contractor, to develop more than 1.8GW of renewable energy projects in India with a primary focus on onshore wind projects.
The partnership will initially focus on the development of two onshore wind projects with a combined capacity exceeding 500MW, with additional projects expected to be developed and constructed through successor CI NMF funds. Viviid will contribute projects from its extensive development pipeline to the partnership, as well as deliver key development activities up to Final Investment Decision as well as providing design, engineering, procurement, and construction services. CIP will lead offtake sourcing, general procurement activities, and the financing process while leveraging Viviid’s local experience.
Peter Sjøntoft, Associate Partner in CIP commented, “This is the second CI NMF I partnership in the Indian renewable energy market, reflecting India’s continuing importance as a key focus area for the fund. With this partnership, we are significantly strengthening our foothold in India and are delighted to partner with Viviid and look forward to working alongside their highly experienced team, combining our joint expertise to assist the green transition in the country.”
Siddharth Mehra, founder of Viviid commented, “We are very excited to be partnering with CIP to accelerate delivery of our project pipeline over the coming years. Through this long-term partnership, we aim to further strengthen our contribution to India’s ambitious target of installing 500GW of generation capacity from renewable sources by 2030.”