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COPENHAGEN, June 16 (Reuters) - Fund management firm Copenhagen Infrastructure Partners (CIP) said on Tuesday it had started what it expects to be the world’s largest fund for renewable energy infrastructure as it targets investments worth 100 billion crowns ($15.2 billion).
CIP, founded by former Orsted executives, said institutional investors had so far pledged to invest 11 billion crowns and it expects commitments to increase to 40-50 billion in the coming 9 to 12 months.
The CIP IV fund will invest in renewable energy infrastructure within offshore and onshore wind, solar energy, transmission grids and biomass in what it called low-risk OECD countries, referring to members of the Organisation for Economic Co-operation and Development.
“The market is favourable for investments in renewable energy infrastructure,” said CIP managing partner Jakob Baruel Poulsen.
United Nations envoy and former Bank of England Governor Mark Carney said earlier this month that investors had an “enormous” opportunity to finance a shift to a low-carbon future in the wake of the coronavirus pandemic.
$1 = 6.5702 Danish crowns Reporting by Stine Jacobsen; editing by Jason Neely, Kirsten Donovan