AkademikerPension joins the AIP platform
AIP MANAGEMENT INVESTS IN A 336 MW WIND FARM IN TEXAS
AIP Management (AIP) has together with the Finnish infrastructure fund manager Taaleri Energia, Taaleri SolarWind II, Ilmarinen, and the independent power producer and developer Akuo Energy invested in Escalade, a 336 MW wind farm in Knox County, Texas.
When complete, the new wind farm will generate approximately 1,226 GWh of electricity each year equivalent to the annual consumption of 275,000 Danish households.
AIP’s investment will take the form of a 35% equity stake and a USD 130m term loan commitment on behalf of the Danish pension funds PKA and PenSam. The project developer and seller is the Helsinki-based developer Taaleri Energia, who together with Taaleri SolarWind II, Ilmarinen and Akuo Energy will retain the remaining ownership of the project.
“The investment in Project Escalade underpins AIP’s investment strategy of generating long-term, stable returns for our investors while supporting the sustainable energy transition. The project will have a positive impact on the local community and help facilitate the continued de-carbonization of the energy mix in the area.
We are excited to initiate the partnership with Taaleri Energia and Akuo Energy USA and pleased to extend our corporation with Mortenson, and Vestas”, said Kasper Hansen, Managing Partner of AIP.
The independent power producer and developer Akuo Energy will assume the role as construction and long-term asset manager on behalf of the project. Vestas will supply the project with 20 V150-4.2MW and 45 V162-5.6MW turbines together with a 30-year service agreement and Mortenson Construction will supply balance of plant. The construction work will be initiated already this summer and the Escalade wind farm is expected to be fully operational by November 2021.
The Escalade investment is AIP’s sixth asset in the US renewables market. It follows two solar projects acquired by AIP earlier this year and three solar and onshore wind investments made in California and Texas in 2018 and 2019, respectively.
About AIP Management.
Originally established in 2012, AIP is an independent investment manager dedicated to managing institutional investor’s investments into energy transition and infrastructure assets in Europe and North America. To date, AIP has invested more than EUR 3.5 billion across 17 assets primarily within energy transition. The target for the coming years is to invest up to EUR 1,000 million per year. AIP consists of more than 35 dedicated employees with experience from principal investments within PE and infrastructure, M&A, asset management, consulting, and energy- and infrastructure corporations.