Copenhagen Infrastructure Partners (CIP) launched what it claimed is set to be the world’s largest ever green energy fund, with ambitions to underpin up to $15bn of renewables projects globally.
CIP’s CI IV fund has already received capital commitments of DKr11bn ($1.7bn) and expects that to hit up to DKr50bn amid “high demand” from institutional investors, said the Danish group.
That could see the fund backing investments of up to DKr100bn, spanning offshore and onshore wind, PV and other energy transition-related projects in “North America, Western Europe, and developed countries in Asia and Australia”.
CIP said “Danish pension funds PensionDanmark and AP Pension, as well as a number of pension and life insurance companies and larger family offices,” had already backed the fund.
“Several other prominent institutional investors are in the process of making capital commitments to CI IV, including investors from the Nordic countries, Continental Europe, the United Kingdom, Israel, North America, Asia and Australia.”
CIP partner Michael Hannibal said: “We are pleased and proud to have managed and invested what is expected to be the largest renewable energy infrastructure fund ever raised in the world, and we are excited to deliver energy infrastructure projects worth up to DKr100bn.”
Since it was set up in 2012 by former executives of Dong Energy, now Orsted, CIP has become a player in some of the world’s most significant offshore wind projects, spanning Europe, the US and Asia.
Most recently it reached financial close on almost 600MW of offshore wind it’s developing off Taiwan.