CIP closes €3.5 billion fund

DENMARK: Copenhagen Infrastructure Partners (CIP) has reached final close on a new €3.5 billion fund to invest in energy infrastructure projects.

CIP's previous investments include a €250 mezzanine loan to fund the 402MW Veja Mate project
CIP's previous investments include a €250 mezzanine loan to fund the 402MW Veja Mate project

With their new CI III fund, the investors will be targeting offshore wind, onshore wind, solar PV, biomass and waste-to-energy, geothermal and reserve capacity projects, CIP stated.

The company will be investing in energy projects in North America, north-western Europe and Asia Pacific, the investors added.

It claims to have an investment pipeline worth about €3 billion, which "includes ownership or exclusivity rights to more than 15 projects currently being developed towards financial close".

The newly raised €3.5 billion exceeded the company’s €3 billion target, the company stated.

CIP secured commitments from 42 contributors, including pension companies, insurance companies, family offices and asset and fund managers to reach the €3.5 billion hard cap, the investors added.

Jakob Baruël Poulsen, a managing partner at CIP, said while past funds had primarily attracted Nordic investors, investors in CI III came from Australia, Asia, continental Europe, the UK and Israel.

CIP's recent investments include a €250 million mezzanine loan for the 402MW Veja Mate project in the German North Sea and £153 million (€175 million) of equity for a 49% stake in Falk Renewables' 272.75MW UK onshore wind portfolio.


Meanwhile, the Emerging Africa Infrastructure Fund (EAIF) has also completed its latest fundraising round, raising $385 million.

It did not state how much of this would be invested in wind, renewables or energy projects.

However, energy generation and "allied infrastructure" currently accounts for "some 50%" of the EAIF’s loans portfolio.

It also aims to have at least 50% of its energy portfolio invested in unspecified renewables "in future", the EAIF stated.

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