Energy Infrastructure Partners achieves first closing of its energy transition infrastructure fund

Energy Infrastructure Partners (EIP), in collaboration with Credit Suisse Investment Foundation, has raised EUR1 billion ($1.06 billion) in investor commitments for the first close of its global energy transition infrastructure fund.

The global fund targets investments in developed economies around the world. It invests in three forms of system-critical energy infrastructure: assets that create carbon-free energy, power grids, and transmission networks, and grid-scale batteries and pumped storage power plants, which give flexibility to energy systems. The fund's final closing is scheduled for the end of 2024, with a total commitment goal of EUR4 billion (US$4.26 billion).

As of the first close, the fund's investors will participate in two major investments EIP completed earlier this year: a 30% stake in Boralex Inc., and a 25% stake in EIP shares with Crédit Agricole Assurances in Repsol Renovables.