Denmark-based Copenhagen Infrastructure Partners (CIP) has raised DKK14.7bn (€2bn) to establish its new investment fund, which will be used for renewable energy developments.
The fund, termed Copenhagen Infrastructure II, will focus on energy infrastructure in northern and western parts of Europe and North America.
The fund has been supported by 19 financial investors, including European Investment Bank (EIB), PensionDanmark and SEB Pensionsforsikring.
EIB has contributed equity-type financing of up to €75m for the fund, which is expected to invest in large green energy related projects as well as transmission schemes.
Copenhagen Infrastructure Partners senior partner Christian T Skakkebæk said: "The fund’s focus will be on investments in energy infrastructure with stable returns, such as biomass fired power plants, electricity transmission grids as well as onshore and offshore wind."
CIP has planned Copenhagen Infrastructure II to be a 20-year ‘buy-and-hold’ fund, which indicates that it will hold the investments throughout the entire period.
Investment in this fund is a first for EIB in Denmark under its ‘Investment Plan for Europe’.
EIB Denmark lending vice-president Jonathan Taylor said: "We are proud to support this innovative fund, as it will contribute to the achievement of European targets for renewable energy generation and CO2 emissions reduction, safeguarding and creating at the same time a significant number of jobs."
Other investors for the project include Lægernes Pensionskasse, PBU, JØP, DIP, Nykredit, PFA, Nordea, and Kommunal Landspensjonskasse, as well as Lærernes Pension, AP Pension, SEB Pension, Oslo Pensjonsforsikring, and SEB Pension och Försäkring, a UK pension fund managed by The Townsend Group, T&W Holding, LB Forsikring and VILLUM FONDEN.
Image: This is EIB’s first investment in Denmark under Investment Plan for Europe. Photo: courtesy of European Investment Bank.