Alcazar Energy has closed its second fund, Alcazar Energy Partners II (AEP-II), with $490 million in equity commitments, making it more than double the size of its first vehicle.
AEP-II is a Luxembourg-domiciled sustainable infrastructure fund focused on utility-scale renewable-energy projects in emerging markets. The fund intends to focus on investment in the Western Balkans, including Macedonia, Serbia and Montenegro — a region that has an urgent need for renewable-energy investment, according to Alcazar Energy.
The fund’s global investor base included investors in North America, Europe, the Middle East and Asia. Since first closing in November 2022, the fund has attracted eight additional investors including the U.S. International Development Finance Corp. (DFC). They support AEP-II’s strategy to develop more than 1.6 gigawatts of clean energy projects across select emerging markets that, once operational, will mitigate 3 million tonnes of greenhouse gas emiss
