Capital Dynamics has closed its latest renewable energy fund with €521m in capital commitments.
The CEI IX fund has exceeded its initial target of €300m by approximately 75%, receiving capital commitments from a large, globally diversified investor base of new and existing investors.
These include pension funds, insurance companies, family offices and high-net-worth individuals, across Europe, Asia, Australia and the Middle East.
Capital Dynamics has been investing directly in clean energy in Europe since 2013 and currently owns and operates over 30 projects with a combined capacity of over 1GW.
Capital Dynamics’ Clean Energy platform makes direct equity investments in carbon-reducing, renewable power generating projects from late-stage development through commercial operations.
CEI IX invests in subsidy-free renewables projects across Europe.
The fund has already invested in a portfolio of 11 assets across 10 projects.
Four of these ready-to-build assets have been constructed and are now operational, providing distributions to investors in the fund.
Once the remaining assets become operational, they are poised to deliver stable cash flows under long-term power purchase agreements from credit worthy corporate entities and utilities.
CEI IX is labeled an Article 9 “Dark Green Product” under SFDR classification with sustainable investment as a core product objective.
Simon Eaves, Co-Head of Clean Energy at Capital Dynamics, said: “We are very pleased to announce the close of Capital Dynamics’ Clean Energy Infrastructure IX.
“The fact that the Fund has exceeded its target speaks to the high level of interest and enthusiasm we have seen from our investor base and the increasing demand for investment vehicles with specific renewables expertise to aid the energy transition.”