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CIP swells clean power coffers

Third fund raises €1.9bn and on track to reach €3bn target by year end

CIP swells clean power coffers image

Copenhagen Infrastructure Partners (CIP) third fund has so far raised €1.9bn towards investments in offshore and onshore wind, solar, bioenergy and transmission projects mainly in northwest Europe and North America.

The Copenhagen Infrastructure III fund was launched in March and is targeting €3bn by the time the investor subscription window closes in December.

Commitments to the new fund have primarily come from Nordic and UK investors, said CIP.

However, it expects to receive commitments from a wider international group of investors before final close.

The fund already has ownership or exclusivity rights to nine energy infrastructure projects currently being developed towards financial close representing investments of approximately €1.5bn.

CIP managing partner Jakob Baruël Poulsen said: “Reaching almost €2bn in commitments is an important milestone in the fundraising process and proof of investor confidence in CIP.

“Most investors in the existing CIP-managed funds have decided to invest in the new fund, which has also obtained commitments from new investors.”

Image: Pixabay

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