Ireland’s PCRE secures 280 MWp of solar in RESS 4 auction
Sep 12, 2024 17:57 CESTThe Ireland Strategic Investment Fund (ISIF) has pledged to inject EUR 278 million (USD 299m) into three climate investment vehicles, among which is the latest renewables-dedicated fund of Denmark’s Copenhagen Infrastructure Partners (CIP).
The bulk of the financing will go to CIP’s flagship Copenhagen Infrastructure V fund, which will get EUR 200 million, ISIF said on Tuesday. With a target size of EUR 12 billion, the fund was launched last year and has already secured EUR 5.6 billion to invest in large-scale renewable energy infrastructure projects. According to CIP, it is set to become the largest fund globally dedicated to greenfield renewable energy infrastructure investments.
ISIF will also provide EUR 50 million to the Impax New Energy Investors IV Fund of Impax Asset Management Group Plc, which is targeting partnerships with renewable energy developers and investments in the build-out of renewable energy assets.
Additionally, ArcTern Ventures Fund III will receive EUR 30 million in funding from ISIF, supporting its plan to deploy capital into start-ups involved in tackling climate and sustainability issues.
The new investments will bring ISIF’s total funding commitments to climate funds to EUR 636 million since 2021, the unit of Ireland’s National Treasury Management Agency (NTMA) said. They were made in line with a goal to invest EUR 1 billion in such initiatives in 2021-2026.
(EUR 1.0 = USD 1.077)
Ireland’s PCRE secures 280 MWp of solar in RESS 4 auction
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