A large group of institutional investors across continental Europe, the Nordics, the United Kingdom, North America and the Asia-Pacific region participated in the first close of Copenhagen Infrastructure V (CI V), the fifth flagship fund from Copenhagen Infrastructure Partners (CIP).
The fund is attracting more investors and is poised to reach its target size of $13 billion, making it the largest fund globally dedicated to greenfield renewable energy infrastructure investments.
The fund will focus on greenfield investments within large-scale renewable energy infrastructure. It has a global reach and intends to diversify investments across technologies such as contracted offshore wind, energy storage, onshore wind and solar in low-risk OECD countries in North America, Western Europe and Asia Pacific.
“The fund and CIP are well-positioned to capture the attractive market opportunities, backed by our strong and extensive track record, our large team of experienced industrialists and our ownership of one of the world’s largest portfolios of greenfield renewable energy projects,” says Jakob Baruel Poulsen, managing partner at CIP.
CI V is the largest project pipeline of any CIP fund to date. At first close, the fund has ownership of more than 40 renewable energy infrastructure projects with a total potential CI V commitment of approximately $22 billion, exceeding the target fund size.
In June, CI V made its first final investment decision on an over 400 MW onshore wind project in the U.S., expected to commence construction in the coming months.
Based on the current portfolio, CI V is planning to add an estimated 20 GW of energy capacity to the grid, enough to power more than 10 million average households with renewable energy.