Renewable

October 2 (Renewables Now) - Copenhagen Infrastructure Partners (CIP) has accumulated EUR 4 billion (USD 4.69bn) in commitments for its latest fund that will focus on greenfield renewable energy infrastructure projects.

Copenhagen Infrastructure IV (CI IV), launched five months ago, is targeting to get up to EUR 5.5 billion, the Danish group said on Wednesday. So far, it has received “significant commitment amounts” from existing investors in CIP and from several institutional investors from the Nordics, Continental Europe, the UK, Israel, Taiwan, Japan and Australia. Between EUR 5.5 billion and EUR 7 billion in total capital commitments are expected to be received.

CIP anticipates that the EUR-5.5-billion goal will be achieved within the coming months.

CI IV will focus on investments in greenfield renewable energy infrastructure projects in North America, Western Europe, developed areas in Asia and Australia. The overall amount to be invested is seen at EUR 10 billion-14 billion, targeting onshore and offshore wind, solar, biomass, storage and waste-to-energy projects.

Currently, CIP has seven funds under management with total commitments of around EUR 12 billion. Its previous fund, CI III, secured total commitments worth EUR 3.5 billion.

(EUR 1.0 = USD 1.172)

Join Renewables Now's free daily newsletter now!