Renewable Energy – Fund CIP
Danish investment firm Copenhagen Infrastructure Partners is looking to raise $3 billion for a new fund focused on building renewable energy projects from scratch in emerging and middle-income countries, the heads of the fund told Reuters.
The 14-year Growth Markets Fund II it has just launched will target wind and solar power and niche investments such as battery storage and projects that turn electricity into carbon-neutral synthetic fuels, so-called ‘power-to-X’.
According to data firm Preqin, only one emerging markets greenfield renewables fund has raised more than Copenhagen wants to amass, although the 2014 $3.26 billion Guangzhou City Development Industry Fund is focused on China.
Getting more money to developing economies to help them transition to a low-carbon future is a central aim of the COP28 climate talks in Dubai, but most climate-focused funds have targeted safer, more reliable returns in developed countries.