US$490 million secured for Renewable Energy Fund

Alcazar Energy Partners has successfully concluded its financial arrangements, securing a total of US$490 million for its second renewable energy fund.

The fund aims to facilitate the development of over 1.6 GW of clean energy projects in selected emerging markets, including the western Balkans. These projects are expected to mitigate more than 3 million tons of greenhouse gas emissions annually.

The funding round attracted investors from various regions, such as North America, Europe, the Middle East, and Asia. Among the investors are prominent institutions like the European Bank for Reconstruction and Development, US International Development Finance Corp., Asian Infrastructure Investment Bank, and International Finance Corp.

Construction has already commenced on the fund's current portfolio, which includes two wind farms located in the western Balkans.