EIP closes Europe-focused energy infrastructure fund with EUR1bn commitments

Energy Infrastructure Partners (EIP) successfully completed fundraising during the first half of 2021, raising total commitments from investors to over EUR1 billion (US$1.187 billion) for its Europe-focused energy infrastructure fund. Closing was achieved through commitments from more than 40 institutional investors in Europe and Asia, predominantly comprising pension funds and insurance companies. Despite strong investor demand, the Fund adhered to its target size of EUR1 billion (US$1.187 billion) to allow for the timely deployment of committed capital.

At closing, the Fund was already over 75% allocated or invested, with a portfolio diversified across investment-grade Europe (excluding Switzerland) comprising Nordic onshore wind farms, an offshore wind farm in Germany, as well as concentrated solar power plants in Spain and photovoltaic power stations in Italy and Slovakia.

The Fund’s duration of 25 years with a possible five-year extension enables investors to harvest attractive cash flows for long periods.