Luxembourg infrastructure fund Alcazar Energy Partners II has reached a final closing of US$490m, after having successfully acquired the project rights for its first two wind farms in the Western Balkans, totalling 456MW.
Since first closing in November 2022, the Fund has attracted eight additional investors including the US International Development Finance Corporation (DFC).
These partners join a strong group of private and public investors from the USA, Europe, Asia and MENA, 80% of whom are rated AA or AAA, according to the Fund.
The Fund intends to develop more that 1600MW of clean energy projects across emerging markets.
Daniel Calderon, co-founder & managing partner, said: “We are excited to announce the final close of our latest fund, welcoming blue-chip public and private infrastructure investors.
“Such a fundraising effort, in otherwise challenging market conditions, is a huge endorsement of the strength of our offering and a vote of confidence in our ability to lead the development of clean energy projects in emerging markets.
“With this fund, we are well positioned to continue investing in essential renewable energy projects that advance the energy transition in places that are currently underserved by the traditional investment community.”