One year after the project’s inception, Copenhagen Infrastructure Partners (CIP) concluded its global greenfield renewables energy fund, Copenhagen Infrastructure IV (CI IV).
The fund was oversubscribed and closed at the hard limit of €7 billion, having already exceeded the goal fund size of €5.5 billion in December 2020.
CI IV received commitments from investors in the Nordics, Europe, North America, Asia, and Australia, with a 50/50 split between current and new investors in CIP funds. The fund’s client base consists of nearly 100 institutional investors, the majority of which are hedge funds, life insurance firms, and family offices.
“We are very pleased to welcome a prominent group of existing and new institutional investors to CI IV, and look forward to continuing to create value for our investors, project partners, and communities through the fund’s investments in greenfield renewable energy projects. We are delighted that investors share our confidence in and appetite for greenfield renewables and have decided to invest alongside CIP in some of the largest clean energy projects across the globe within offshore wind, onshore wind, solar PV, transmission, and storage.”Jakob Baruël Poulsen, managing partner at CIP.
CI IV is the world’s largest committed greenfield renewable energy investment, with €7 billion in investments, and is projected to participate in greenfield renewable energy infrastructure projects of overall CAPEX in excess of €14 billion. With the creation of CI IV, CIP’s overall portfolio of renewables assets is expected to minimize the equivalent of approximately 10-11 million tonnes of CO2 and fuel approximately 5-6 million households in the countries where the funds spend each year.
Following the completion of CI IV, CIP now manages seven funds with a cumulative investment of approximately €15 billion. CIP plans to launch its eighth fund (CI Energy Transition Fund I) in the second quarter of 2021. The fund will invest in infrastructure investments that will decarbonize the fossil-fuel and feedstock sectors, as well as assist in the decarbonization of difficult-to-abate industries like shipping, steel, and chemical refining.