CIP secures EUR375mn first close on its CI Advanced Bioenergy Fund I

Copenhagen Infrastructure Partners (CIP) reaches EUR 375 million (US$395.8 million) and the first close on its new mid-cap green fuel strategy, CI Advanced Bioenergy Fund I (CI ABF I), with a target fund size of EUR1 billion (US$1.05 billion).

The fund will focus on equity investments in advanced bioenergy infrastructure in Europe and North America. It enables institutional investors to contribute to the energy transition and participate in the decarbonization of hard to abate sectors through the production of advanced biofuels and biogas – while delivering cost-efficient and circular solutions for environmental and organic waste challenges. Investments will be dark green (as defined in the EU regulation Article 9) based on sustainable feedstock such as waste wood, agricultural biowaste, and household and industrial biowaste. The offtake products will include green gas and green fuels, such as renewable natural gas (RNG), liquified natural gas (bio-LNG), and 2nd generation bioethanol.

Prior to the first close of CI ABF I, CIP has secured the fund an attractive portfolio of development stage advanced bioenergy projects in Europe with diverse exposure to feedstock, production technologies, and offtake markets. The fund secures its first close with capital commitments from four large institutional investors from Denmark (PensionDanmark and Industriens Pension) and Sweden (Andra AP-fonden and Fjärde AP-fonden). Vestas and CIP have also committed to the fund.