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Focus on Greenfield Projects: Copenhagen Infrastructure Partners Launches Billion-euro Growth Markets Fund II

Copenhagen, Denmark - Copenhagen Infrastructure Partners (CIP) has announced the launch of its Growth Markets Fund II (GMF II) during the UN Climate Change Conference (COP 28) in Dubai.

The fund focuses on the development and construction of offshore and onshore wind, solar PV, energy storage and power-to-X projects in selected high-growth, middle-income markets in Asia, Latin America and EMEA and has a target size of USD 3 billion.

According to CIP, the markets have strong fundamentals for investment in renewable energy with a combination of high economic and population growth, including a growing middle class leading to increasing demand for electricity.

As CIP points out, GMF II markets are expected to account for 25 per cent of global installed renewable energy capacity by 2050. The fund owns a diversified portfolio of attractive development-stage projects in offshore wind, onshore wind, solar PV, battery storage and power-to-X, representing potential commitments of more than USD 5 billion, significantly exceeding the target fund size of USD 3 billion. It aims to be the world's largest fund focussing on greenfield investments in renewable energy in high-growth, middle-income markets.

The launch of GMF II complements the already successful CIP year 2023 with the first close of the fifth flagship fund Copenhagen Infrastructure V (CI V) at almost EUR 6 billion and the final close of Advanced Bioenergy Fund I and Green Credit Fund I totalling approximately EUR 2 billion. GMF II is CIP's 12th fund.

Source: IWR Online, 05 Dec 2023