NEW YORK and CALGARY, Alberta, Nov. 21, 2023 (GLOBE NEWSWIRE) -- CIP, on behalf of its Flagship Funds, today announced the launch of Horizon, a dedicated platform for the development and realization of renewable energy projects in Canada. The new platform company builds on top of CIP’s activities in Canada to date, which includes successfully building the largest solar project in Canada, Travers Solar (692 MWDC), and construction of the country’s largest onshore wind project, Buffalo Plains (495 MWAC).
“As part of CIP’s dedicated strategy of investing in growth platforms, we are excited about the prospects and the opportunity to create an established developer of renewable energy projects in Canada,” said Tim Evans, partner and Head of North America at CIP. “Horizon is an important step in our efforts to develop renewable energy projects in Canada that will provide local jobs and clean, renewable energy for many years to come.”
Horizon will be an independent power producer that owns both operational projects and a growing pipeline of projects under construction and in development. Based in Calgary, Alberta, the new company will assume the responsibility of the development of CIP’s Flagship Funds existing 1.2GW of development assets in the province. Horizon will primarily focus on the origination, development and implementation of solar PV, onshore wind, and battery storage projects.
Horizon’s development efforts will be led by Shannon Wever, an established developer in Canada with +20 years of experience in renewable energy origination and development. Wever joins Horizon from ENMAX Energy where she previously led its renewable energy development efforts.
“I am thrilled to join CIP and lead Horizon New Energy in Canada. Canada is in the midst of a significant build-out of renewable energy to meet Canada’s ambitions of decarbonizing the electricity grid by 2035, so I’m excited by the opportunity to leverage CIP’s industrial experience and financial capacity in Horizon’s development efforts,” said Shannon Wever, Managing Director at Horizon New Energy.
CIP’s Flagship Funds will provide capital for project development and for the growth of Horizon New Energy and then, subject to investment decisions at the time, CIP intends to provide the capital required for the construction of the projects developed by the company.
More information is available at www.horizonnewenergy.ca.
About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.
CIP manages 11 funds and has to date raised approximately EUR 26 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has approximately 400 employees and 12 offices around the world. For more information, visit www.cip.com.
For further information, please contact: E-mail: media@cip.com Shannon Wever, Managing Director, Horizon Energy Email : shwe@cipprojects.dk Simon Mehl Augustesen, Chief Communication Officer, CIP Phone: +45 3052 6721 Email: siau@cip.com Thomas Kønig, Partner – Investor Relations, CIP Phone: +45 7070 5151 Email: tkon@cip.com
