Copenhagen Infrastructure Partners (CIP) has announced a first close of its fifth flagship fund, Copenhagen Infrastructure V (CI V), with €5.6 billion ($6.1 billion) in capital commitments. A large group of top institutional investors across continental Europe, the Nordics, the United Kingdom, North America and the Asia Pacific region participated in the first closing.
With a target fund size of €12 billion ($13 billion), CI V is expected to become the world’s largest dedicated greenfield renewable-energy fund. CI V is aiming to add an estimated 20 gigawatts of new clean-energy capacity to the grid — enough to power more than 10 million average households with renewable energy and avoid 15 million metric tons of carbon dioxide annually.
CI V’s investment strategy follows that of its predecessor flagship funds CI I, CI II, CI III and CI IV, whereby projects are entered early and significantly de-risked and optimized prior to the start of construction to captur