CIP Appoints POWERCON to Manage 300 MW Wind Project in Karnataka

Danish investment fund Copenhagen Infrastructure Partners (CIP), through its Growth Markets Funds, has appointed POWERCON, a renewable energy asset management company, to manage its 300 MW wind energy project in Karnataka, India, exclusively.

POWERCON Group, in a press release, stated that this appointment marks the first instance in India where full-scope Asset Management has been entrusted to an independent firm, signalling a shift in the governance of renewable energy assets in the country.

The partnership highlights the significance of Independent Asset Managers in delivering domain expertise, operational excellence, and strategic value to the Investors for securing strong returns and measurable impact on decarbonization.

While Envision, the Wind Turbine Generator (WTG) OEM, will deploy technology, POWERCON will provide an end-to-end management across operational, corporate, and financial domains. Its responsibilities include performance governance of WTGs and Balance of Plant (BOP) operations, stakeholder engagement, utility and regulators interface, real-time power off-take strategy management, while strictly adhering to CIP’s HSSE, ESG, and Cybersecurity standards.

At the corporate and financial level, POWERCON said it manages service providers, insurance, budgeting, reporting, accounting, payments, collections, settlements, treasury, and tax compliance. 

Leadership View

On this latest announcement, Peter Jannik Sjonloft, Partner at Copenhagen Infrastructure Partners, said, “India is one of the world’s most important and dynamic renewable energy markets – and we collaborate with entities who share our vision of long-term value creation of strong investor returns and meaningful contributions to the global energy transition. POWERCON’s domain expertise, OEM-neutral approach, and skilled team make them the ideal partner for CIP to maximise the performance and value of our investments in India.”

Praveen Kakulte, Founder and CEO of The POWERCON Group, added, “At POWERCON, our mission is to unlock the full potential of renewable energy assets. With OEM-neutral expertise and a global footprint spanning 2.5 GW in India and 40 GW remotely worldwide, we transform every installed megawatt into greater clean energy output.”