(Bloomberg) — Copenhagen Infrastructure Partners raised
14.7 billion kroner ($2.2 billion) for its second fund to invest
in clean-energy projects in Europe and North America.
The Copenhagen Infrastructure II K/S fund was backed by
PensionDanmark A/S, the European Investment Bank, SEB
Pensionsforsikring A/S and other institutional investors, the
firm said Thursday in an e-mailed statement.
CIP targets projects that hold long-term contracts with
industrial partners to deliver steady returns. Its new
renewables-infrastructure fund is the largest in Europe in the
past five years, said Angus McCrone, senior analyst for
Bloomberg New Energy Finance.
“Institutions are becoming more and more comfortable with
vehicles that enable them to access the stable cash flows
generated by renewable-energy projects,” McCrone said. “Danish
institutions, as seen by the investor list for CIP II, are still
leading the way in this respect in Europe.”
PFA Pension A/S and AP Pension Livsforsikrings A/S also
backed the fund, which will focus on wind and biomass energy and
power transmission. The fund has already invested in two
offshore wind farms and a U.K. biomass plant.
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Amanda Jordan, Tony Barrett