Copenhagen Infrastructure Partners announced the acquisition of a 1.3 gigawatt onshore wind portfolio in New York called Liberty Renewables. Spanish renewable energy firm Acciona Energia decided to restructure its business in Brazil after reviewing their portfolio, citing challenges with project profitability. Wind turbine manufacturer Nordex is reducing its production in Brazil in response to low demand for contracts in the Brazilian marketplace.



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Allen Hall: I'm Allen Hall, president of Weather Guard Lightning Tech. And I'm here with the founder and CEO of InstelStor, Phil Totaro, and the chief commecrcial officer of Weather Guard, Joel Saxum. And this is your News Flash. News Flash is brought to you by our friends at InstelStor. If you want market intelligence that generates revenue, then book a demonstration of InstelStor at InstelStor. com.



Copenhagen Infrastructure Partners has announced the acquisition of a 1. 3 gigawatt portfolio of onshore wind projects in New York called Liberty Renewables. CFP has made this acquisition through its CIV fund, where it is targeting a final close of 12 billion euros. Liberty has recently submitted its application to New York's Office of Renewable Energy, citing for its first project, Hoffman Falls Wynn, where construction is due to start there in 2026.



The building work on other projects in the 1. 3 gigawatt portfolio are due to start somewhere between 2027 and 2020. 30. Phil, why is Copenhagen Infrastructure Partners going for onshore wind in the United States?



Philip Totaro: It's a great question. And in particular, this Liberty Renewables portfolio it's interesting because the New York Independent System Operator, certainly within the state of New York, they need, additional power.



Anybody that's got a pipeline of projects in New York is probably in good stead. But their power prices in NISO have actually been fairly robust. And so I think, when Usually projects in New York don't have a fixed price power offtake contract, except for the offshore, obviously.



And even then there's an escalator in there. But yeah, most of the projects in the NYSO market are, on a pretty healthy merchant power offtake. So it's actually a great deal. And they're looking at potentially with this their fifth fund here, they're looking at a total potential of, I think they said something around 22 billion euros.



So on top of what they've already got committed, this is, something that can help them extend more investments into some markets where there are small portfolios, a development assets like this, that they can start grabbing.



Joel Saxum: Yeah. And just so everybody knows, this is not a bunch of in the ground projects operating these. This is a development pipeline. So these are, permitted and or not permitted, but, active projects that are in the development phase where C. I. P. will come in, finish the development and of course, a secure financing to make these things happen.



So right now, Nothing in the ground, but soon to come.



Allen Hall: Spanish renewable energy firm, Acciona Energia has decided to restructure its business in Brazil. After they have reviewed their portfolio, the company has decided that the Latin Americans largest economy was adapting to current conditions in the domestic market, and this has implications worldwide, Phil.



Brazil is going to be a renewable energy powerhouse.