Denmark-headquartered Copenhagen Infrastructure Partners (CIP) is concluding the fundraising for its energy transition fund with commitments exceeding the €12bn ($13.05bn) target.
The fifth fund, Copenhagen Infrastructure V (CI V), excludes capital for co-investments and focuses on the energy transition across technologies such as wind, solar photovoltaic (PV) and battery storage.
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The fund will be used to support renewables development in low-risk Organization for Economic Co-operation and Development countries, including Europe, North America and Asia Pacific.
CIP managing partner Jakob Baruël Poulsen stated: “Reaching 12 billion euros is a fantastic result and a testament to our proven industrial approach to energy infrastructure investments. I am proud that several of the world’s largest and most sophisticated investors are committed to CIP, and I am delighted to once again have the support of our existing investors and welcome many new investors to our platform.”
The CI V fund has already made six final investment decisions, committing 60% of the fund, ensuring rapid capital deployment and early value creation.
The fund owns 50 development-stage projects with a potential CI V investment volume of €24bn, aiming to be fully committed by spring 2026.
It is expected to add 30GW of new energy capacity globally, powering more than 10 million households.
The demand for new electricity is driven by digitalisation, AI, data centres and the electrification of transport and heating.
Renewables, especially solar and onshore wind, are the most cost-competitive and scaleable energy forms, crucial for improving cost-competitiveness and energy security.
CIP head of flagship funds and partner Mads Skovgaard-Andersen stated: “Our team of energy industrialists is expert in value-enhancing greenfield investments in large-scale energy infrastructure projects that deliver attractive risk-adjusted returns for our investors.
“We believe that CI V is a highly relevant and important component in our investors’ portfolios as it offers portfolio stabilisation and diversification with downside protection from contracted cash flows and exposure to inflation.
“The value creation in our funds is based on early entry at low cost and derisking and optimising the asset across the different project stages, which are generally less correlated to macroeconomic factors and economic cycles. Robustness is further enhanced through a high degree of optionality from our large project portfolio and diversification across technologies and markets.”
CIP recently agreed to acquire Morecambe, a 480MW fixed-bottom offshore wind project 30km offshore Lancashire in the eastern Irish Sea.
The project, acquired through CI V from COBRA Group and Flotation Energy, owned by TEPCO Renewable Power, will be part of CIP’s CI V fund, targeting a €12bn ($12.6bn) investment in renewable technologies.
