Copenhagen Infrastructure Partners has secured €4bn of commitments for its new greenfield renewables fund.
The Danish investor, which launched the CI IV round five months ago, has landed the backing from existing backers as well as new ones across the Nordics, continental Europe, the UK, Taiwan, Japan and Australia.
The fund is one of the largest ever assembled in renewables and is bigger than the €3.5 predecessor CI III. The target is between €5bn to €5.7bn.
CI IV will focus on greenfield investments within core energy infrastructure. It has a global reach and will diversify investments across technologies such as contracted offshore wind, onshore wind, solar PV, transmission, storage, and waste-to-energy in low risk OECD countries in Western Europe, North America, developed Asia and Australia.
“We are very pleased with our investors’ continued confidence in CIP’s approach to energy infrastructure investments and look forward to continuing to create value for our investors, project partners, and communities through the fund’s investments,” said CIP partner Steen Lønberg Jørgensen.
“With expected capital commitments of €5.5-7 billion, CI IV is set to become the largest dedicated renewables fund globally and is expected to invest €10-14 billion in greenfield renewable energy infrastructure projects across North America, Western Europe, developed Asia and Australia.”