Strong Appetite For Renewable Energy

• CIP has raised close to €6 billion for its CI V fund in the first close, out of €12 billion targeted
• Proceeds are to be spent on some 20 GW of new clean energy capacity in low-risk OECD countries in North America, Western Europe and Asia Pacific
• Funding has come from its existing and new institutional investors across continental Europe, the Nordics, the UK, North America and the Asia Pacific region

Denmark based renewables fund manager Copenhagen Infrastructure Partners (CIP) has announced first close of €5.6 billion for its 5^th flagship fund for clean energy, and says it is confident of reaching the target fund size of €12 billion to make the 'largest fund globally dedicated to greenfield renewable energy infrastructure investments'.

The fund, Copenhagen Infrastructure V (CI V), owns more than 40 GW of renewable energy infrastructure assets. Its parent says this is the largest project pipeline of any CIP fund to date. This capacity has a total potential CI V commitment of approximately €20 billion which is more than 150% of the target size.

The fund targets to add around 20 GW of new clean energy capacity to the grid, based on the current portfolio. It will focus on greenfield investments within large-scale renewable energy infrastructure that includes onshore wind and solar in low-risk OECD countries in North America, Western Europe and Asia Pacific, according to CIP.

"Our large investment pipeline and broad capabilities across all major renewable technologies and presence in all key markets enable us to select the best projects for the fund and to build a well-diversified portfolio," said CIP Managing Partner Jakob Baruël Poulsen.

Funding for CI V has come from CIP's existing and new institutional investors across continental Europe, the Nordics, the UK, North America and the Asia Pacific region.

Of late, the CIP has been expanding its project pipeline globally via acquisitions including acquisition of Mulilo Energy Holdings with its more than 25 GW renewables pipeline in South Africa. In May 2023, it also announced a plan for 14 GW solar and wind for 7 GW hydrogen project in Australia (see Massive Green Hydrogen Project In Australia).

CIP is also part of the Amnah consortium in Oman that recently emerged as one of the winners of Hydrom's land allotment for green hydrogen projects, powered by 4.5 GW renewable capacity (see Oman Awards Green Hydrogen Projects).