CIP holds EUR 375m first shut on new inexperienced gas fund

April 28 (Renewables Now) – Danish fund supervisor Copenhagen Infrastructure Companions (CIP) on Wednesday introduced a EUR-375-million (USD 397m) first shut for its new CI Superior Bioenergy Fund I (CI ABF I), which is able to make fairness investments in superior bioenergy infrastructure in Europe and North America.

The brand new mid cap inexperienced gas fund, concentrating on a measurement of EUR 1 billion, will permit institutional buyers to take part within the manufacturing of superior biofuels and biogas based mostly on sustainable feedstock similar to waste wooden, agricultural biowaste and family and industrial biowaste. Remaining merchandise will embody renewable pure gasoline (RNG), liquified pure gasoline (bio-LNG) and second era bioethanol.

In line with Jakob Baruel Poulsen, managing associate in CIP, the brand new fund “faucets into a lovely market alternative underpinned by main themes such because the local weather agenda, round economic system and power independence.”

The primary shut commitments have been secured from a few of CIP’s massive present buyers — two from Denmark, PensionDanmark and Industriens Pension, and two from Sweden, Andra AP-fonden and Fjarde AP-fonden. Vestas and CIP have additionally made commitments.

CIP mentioned it has ready for the fund a lovely portfolio of development-stage initiatives in Europe, involving numerous feedstocks, manufacturing applied sciences and offtake markets.

CI ABF I’ll interact with initiatives prematurely of building and apply a de-risking method via mission design, associate choice and contracting.

“Superior biofuels will present a powerful affect for the inexperienced transition of the transportation sector and can moreover assist a fair quicker independence from Russian pure gasoline,” commented Torben Möger Pedersen, CEO at PensionDanmark.

(EUR 1 = USD 1.058)

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