Spain's hydrogen tech start-up H2SITE raises EUR 12m in Series A round
Jun 30, 2022 14:53 CESTApril 19 (Renewables Now) - Copenhagen Infrastructure Partners (CIP) has achieved final close of its latest renewable energy infrastructure fund, securing EUR 7 billion (USD 8.4bn) of investments.
Copenhagen Infrastructure IV (CI IV), launched a year ago with a target of EUR 5.5 billion, is now the largest dedicated greenfield renewable energy fund globally, CIP said on Friday. It will invest over EUR 14 billion in greenfield renewable energy infrastructure projects in North America, Western Europe, Australia and developed areas in Asia. Onshore and offshore wind, solar, biomass, storage and waste-to-energy projects will be the targeted categories.
Around a third of CI IV has already been committed to investments, with 100% to be reached within the next two-three years. During its first six months, the fund acquired over 15 renewable energy projects, while final investment decisions were taken on three schemes.
CI IV has around 100 institutional investors, mainly pension funds, life insurance companies and family offices. The investor base is split equally between new investors and existing ones in CIP’s funds.
CIP noted that the fund’s initial target size of EUR 5.5 billion was achieved in December 2020. The Danish investment firm already manages seven funds with EUR 15 billion of combined commitments and plans to set up another one in the second quarter. Dubbed CI Energy Transition Fund I, the eight fund will invest in infrastructure assets decarbonising fossil-based fuels and facilitating the decarbonisation in transportation, steel and chemicals processing.
(EUR 1.0 = USD 1.203)
Spain's hydrogen tech start-up H2SITE raises EUR 12m in Series A round
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