Norges Bank Investment Management has pledged to invest €900 million ($1 billion) into Copenhagen Infrastructure Partners’ (CIP) latest renewable-energy fund, Copenhagen Infrastructure V (CI V).
To date, Norges Bank Investment Management has closed six direct investments within solar and onshore and offshore wind in Europe.
“This agreement will enable us to invest in renewable-energy projects in the development stage,” said Mie Holstad, CIO real assets at Norges Bank Investment Management. “The investment is a valuable addition to the portfolio we are currently building. It will provide further investment possibilities and exposure to other parts of the value chain, as well as the opportunity to continue building knowledge and experience with new markets and technologies.”
CI V achieved a first close on its fifth flagship fund of more than €5.6 billion ($6.3 billion) in capital commitments and has a target fund size of €12 billion ($13.4 billion)
