Better Energy to delay 3 GW of Danish PV projects amid negative prices
Sep 19, 2024 11:14 CESTCopenhagen Infrastructure Partners (CIP) has raised EUR 1.5 billion (USD 1.69bn) in the first close of its new renewable energy infrastructure fund, the Danish group said on Tuesday.
Copenhagen Infrastructure IV (CI IV) has received commitments from leading institutional investors and pension and life insurance companies. While its goal is to get up to EUR 5.5 billion, commitments worth between EUR 5 billion and EUR 7 billion are expected to be received.
The new fund 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.
The new fund is expected to reach final close within the next nine months. Among its investors are Danish pension funds PensionDanmark and AP Pension, Norway’s KLP, as well as pension and life companies and large family offices.
“The market timing is favourable for greenfield renewable infrastructure investments, and the fund and CIP are well positioned to capture the attractive market opportunity with significant visibility of the investment pipeline and a high degree of execution certainty [..],” said Jakob Baruel Poulsen, managing partner in CIP.
Currently, CIP has seven funds under management with total commitments of around EUR 9.5 billion.
(EUR 1.0 = USD 1.127)
Better Energy to delay 3 GW of Danish PV projects amid negative prices
Sep 19, 2024 11:14 CESTCoca-Cola Europacific seals virtual solar PPA with Engie Australia
Sep 19, 2024 5:33 CESTEurowind, Wind Estate set up EUR-400m wind JV in Denmark
Sep 18, 2024 11:01 CESTQueensland Hydro picks contractors for 2-GW pumped storage project
Sep 18, 2024 6:05 CESTGE Vernova to supply 250-MW BESS for Aussie Supernode project
Sep 17, 2024 13:59 CESTGlobal wind turbine order intake hits record 91.2 GW in H1
Sep 17, 2024 10:03 CEST