Institution investors in the UK, continental Europe, North America, Asia-Pacific, and the Nordics have closed a $6 Billion round as the Copenhagen Infrastructure Partners continues to build its fifth flagship fund.
At $13 billion, this will ultimately be the largest fund in the world dedicated to greenfield renewable energy infrastructure investments.
The fund will focus on greenfield investments within large-scale renewable energy infrastructure. It has a global reach and intends to diversify investments across technologies such as contracted offshore wind, energy storage, onshore wind, and solar in low-risk OECD countries in North America, Western Europe, and Asia Pacific.
“We’re delighted by the continued trust in CIP from our existing investors and are pleased to welcome the many new investors to our renewable energy platform. Reaching nearly EUR 6 billion at first close is a testament to the importance of the fund and the confidence placed in our industrial approach to energy infrastructure investments. With its greenfield focus and large and diversified portfolio, CI V has the potential to significantly contribute to and accelerate the energy transition on a global scale while generating strong returns for our investors,” says Jakob Baruël Poulsen, Managing Partner at CIP.
The investment strategy is a continuation of the predecessor flagship funds CI I, CI II, CI III, and CI IV, applying the same well-tested industrial value-creation approach, whereby projects are entered early and significantly de-risked and optimized prior to the start of construction to capture the attractive greenfield premium. The fund will focus on greenfield investments within large-scale renewable energy infrastructure. It has a global reach and intends to diversify investments across technologies such as contracted offshore wind, energy storage, onshore wind, and solar in low-risk OECD countries in North America, Western Europe, and Asia Pacific.
“We believe the market timing for the investment of CI V is favorable. The strong and accelerating demand for new renewable infrastructure to secure energy independence and deliver on ambitious climate pledges creates many new investment opportunities. The fund and CIP are well-positioned to capture the attractive market opportunities, backed by our strong and extensive track record, our large team of experienced industrialists, and our ownership of one of the world’s largest portfolios of greenfield renewable energy projects. Our large investment pipeline and broad capabilities across all major renewable technologies and presence in all key markets enable us to select the best projects for the fund and to build a well-diversified portfolio,” says Jakob Baruël Poulsen.
“The fund and CIP are well-positioned to capture the attractive market opportunities, backed by our strong and extensive track record, our large team of experienced industrialists, and our ownership of one of the world’s largest portfolios of greenfield renewable energy projects,” says Jakob Baruel Poulsen, managing partner at CIP.
CI V is the largest project pipeline of any CIP fund to date. At first close, the fund has ownership of more than 40 renewable energy infrastructure projects with a total potential CI V commitment of approximately $22 billion, exceeding the target fund size.
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