Capital Dynamics closes latest renewables fund 75% above target

Global private asset manager Capital Dynamics said today it has achieved a EUR-521-million (USD 536.8m) final closing of its latest renewable energy fund, which is about 75% higher than the initial target of EUR 300 million.

The fund, called Capital Dynamics Clean Energy Infrastructure IX (CEI IX), has obtained capital commitments from a globally diversified investor base that includes pension funds, insurers, family offices and high-net-worth individuals, across Europe, Asia, Australia and the Middle East.

CEI IX will be supporting zero-subsidy renewable energy projects, predominantly solar, across Europe. The fund has already invested in a portfolio of 11 assets across ten projects, including four that are now operational. The asset portfolio will deliver stable cash flows under long-term power-purchase agreements (PPAs) from credit-worthy corporate entities and utilities, Capital Dynamics said.

Investing directly in European clean energy since 2013, Capital Dynamics currently owns and operates more than 30 projects with a combined capacity surpassing 1 GW.

(USD 1 = EUR 1.030)

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