Copenhagen Infrastructure Partners (CIP) has completed an €800 million ($955 million) first close of its new fund, CI Energy Transition Fund I (CI ETF I), against a €2.25 billion ($2.7 billion) fundraising target.
Commitments came from a group of leading institutional investors, endowments and family offices from Denmark, Sweden and Germany. The two Danish pension funds PensionDanmark and PFA backed the fund, as well as Vestas and CIP.
CI ETF I will invest in next-generation renewable energy infrastructure, such as industrial-scale Power-to-X (PtX) projects, and the fund will primarily focus on greenfield projects in Western Europe, North America, Australia and developed Asian countries.
According to CIP, next-generation renewable energy infrastructure assets and applications such as PtX have now become relevant investment opportunities at industrial scale, due to continued technological progress and cost improvements, as well as recent implementation of reg
