The Danish are coming: Danish fund manager Copenhagen Infrastructure Partners (CIP) is seeking to raise EUR 12 bn (c. USD 13 bn) to invest in renewable energy, making it among the top funds looking to shift away from fossil fuels, Managing Partner Jakob Baruël Poulsen told Bloomberg. CIP reached its first close of EUR 5.6 bn for its renewable energy fund and has investors looking to more than double funding within the next 12 years.

About the fund: The new fund is the fifth of its kind by CIP since it was established in 2012, according to Bloomberg. It will be a mix of offshore and onshore wind and solar, with one-third each and a third of “niche” technologies, which would include battery storage and transmission. Most of the projects will look at utilizing 50% debt and equity from the fund, bringing total investments to c. EUR 24 bn. When fully subscribed, it is set to beat its predecessor, which kicked off with EUR 1.5 bn and grew to EUR 7 bn later.

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