Copenhagen Infrastructure Partners Explained
| Copenhagen Infrastructure Partners |
| Type: | Private company |
| Key People: | Jakob Baruël Poulsen, Christian T. Skakkebæk, Torsten Lodberg Smed, and Christina Grumstrup Sørensen |
| Location: | Copenhagen, Denmark |
| Area Served: | Worldwide |
| Industry: | Financial services |
| Products: | Investment funds |
| Homepage: | www.cip.com |
| Num Employees: | 500+ |
Copenhagen Infrastructure Partners P/S ("CIP") is a Danish investment firm specializing in infrastructure investments, particularly wind power.[1] [2] CIP is one of the world's largest dedicated renewables investment firms with €25 billion raised and a project pipeline of 120 GW.
History
Founded in 2012, CIP today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore- and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, Power-to-X and advanced bioenergy.CIP manages eleven funds and has to date raised approximately EUR 25 billion for investments in energy and associated infrastructure from more than 150 international institutional investors. CIP has more than 500 employees and offices in Copenhagen, London, Hamburg, München, Utrecht, Luxembourg, Madrid, New York, Tokyo, Singapore, Seoul, and Melbourne.
CIP focuses its on investments in greenfield energy infrastructure projects. By entering early, the company get exclusive access to some of the most attractive investment opportunities. De-risking and structuring the projects creates an attractive risk-adjusted return for investors alongside a significant positive impact on the local society and environment. CIP has a market-leading portfolio of green energy projects, totalling approximately 120 GW, with a primary focus on offshore wind, onshore wind and solar PV, energy storage, Power-to-X, Waste-to-X, and other renewables. CIP aims raising €100 billion by 2030 to be invested in green energy investments.
All CIP’s funds seek to invest in renewable energy infrastructure projects which can assist in transitioning the global economy into a net-zero emissions scenario by 2050. Recently, CIP announced its Fund V - the CI V. CI V will be CIP’s 11th fund and is set to become the world’s largest dedicated greenfield renewable energy fund
In September-November 2022, Danish business daily "Berlingske Business" published a series of articles about the past, present and future of CIP.[3]
Investment Funds
- Copenhagen Infrastructure I K/S - established in 2012 with a total commitment of EUR ~1bn by PensionDanmark - https://cipartners.dk/2012/10/11/pensiondanmark-invests-800-meur-cip/
- Copenhagen Infrastructure II K/S - established in 2014 with a total commitment of EUR 2bn by 19 Danish and international institutional investors - https://cipartners.dk/2015/07/02/copenhagen-infrastructure-partners-ends-fundraising-period-new-fund-total-commitment-dkk-14-7bn-eur-2bn/
- Copenhagen Infrastructure III K/S - established in 2018 with a total commitment of EUR 3.5bn (hard cap) exceeding the EUR 3bn target fund size - https://cipartners.dk/2018/04/10/final-close-copenhagen-infrastructure-iii-eur-3-5-billion/
- Copenhagen Infrastructure IV K/S - established in 2020 with a total commitment of EUR 7bn (hard cap) exceeding the EUR 5.5bn target fund size - https://cipartners.dk/2021/04/19/cip-reach-final-close-on-copenhagen-infrastructure-iv-at-the-eur-7-billion-hard-cap/
- Copenhagen Infrastructure V K/S - Launched in 2023 the fund reached a first close at EUR 5.6 billion in capital commitments received – putting it on track to reach its target fund size of EUR 12 billion and become the world’s largest dedicated greenfield renewable energy fund - CIP - Flagship funds
- Copenhagen Infrastructure New Markets Fund I K/S - established in November 2019 with a total commitment of USD 1.0bn exceeding the target fund size - https://cipartners.dk/2019/12/05/final-close-of-ci-new-markets-fund-i-with-usd-1bn/
- Copenhagen Infrastructure Energy Transition Fund I K/S - established in 2022 with a total commitment of EUR 3bn (hard cap). https://cipartners.dk/2022/08/31/copenhagen-infrastructure-partners-reach-final-close-on-ci-energy-transition-fund-i-at-the-eur-3-billion-hard-cap/
- Copenhagen Infrastructure Advanced Bioenergy Fund I K/S - established in 2023 with a total commitment of EUR 750m - https://cipartners.dk/2022/04/27/cips-advanced-bioenergy-fund-reaches-first-close-with-eur-375-million-in-commitments/
- Copenhagen Infrastructure Green Credit Fund I K/S - CIP's first debt fund. Established in 2023 with a total commitment of EUR 1bn reaching the target fund size. https://cipartners.dk/2022/02/03/cip-launches-its-first-debt-fund-green-credit-fund-i-with-a-target-fund-size-of-eur-1-bn/
- CI Artemis K/S - established in 2014 with a total commitment of EUR 392m
- CI Artemis II K/S - established in 2020 with a total commitment of approximately EUR 300m
CIP aims for EUR 100bn in renewable energy investments by 2030.[4]
Investors
In just ten years, CIP has become one of the world’s most sought-after investment firms for green energy and infrastructure projects. CIP has gone from having €1 billion under management for a single Danish investor in a single fund to having approximately €25 billion in eleven funds for more than 150 Danish and international institutional investors. PensionDanmark (a Danish pension fund) was a founding investor and remains is a major investor.[5]
Investments
Through its funds, CIP has wide range of investments in operation, construction and late-stage development. Examples are listed below:
- Høst - Denmark's first and one of Europe's biggest PtX facility for the production of green ammonia hoestptxesbjerg.dk
- Vineyard Wind - First U.S utility-scale offshore wind energy project. Generating clean energy for over 400,000 homes while reducing carbon emissions by over 1.6 million tons per year[6] https://www.vineyardwind.com/
- Fighting Jays - a 350 MW large-scale solar project, powering about 530.000 households located approximately 70 kilometers from Houston's downtown area https://fightingjays.com/
- Changfang and Xidao (CFXD) - The CFXD Offshore Wind Project is a 589MW capacity project located off the western coast of Changhua, Taiwan https://cisc.dk/assets/changfang-and-xidao/
- Monegros - 12 operational onshore wind farms in Aragon, Spain, with a total installed capacity of 487 MW - Monegroswindfarms.com/
- Star of the South - An offshore wind project located in Australia with a capacity of 2.2 GW and capable of powering around 1.2 million homes https://www.starofthesouth.com.au/
- Veja Mate - an offshore wind farm with a capacity of 402 MW located in the German North Sea https://vejamate.de/
- Misae - CIP’s first large-scale solar investment, a 240 MW project, capable of creating enough clean energy to power nearly 60,000 houses per year. https://www.misaesolar.com
Notes and References
- News: Reed . Stanley . Can a Leader in Offshore Wind Power Succeed in the United States? . The New York Times . 9 May 2019 . 10 July 2019.
- Web site: Company Overview of Copenhagen Infrastructure Partners P/S . www.bloomberg.com . Bloomberg . 10 July 2019.
- Web site: Hansen . Jonas Rimer . 2022-10-15 . »Det her kommer til at slå alt. Igen« – diskrete danskere vil rejse over 100 milliarder i kamp mod klima- og energikrisen . 2024-01-30 . Berlingske.dk . da.
- Web site: Copenhagen Infrastructure Partners . www.cipartners.dk . Copenhagen Infrastructure Partners . 16 December 2021.
- Web site: Copenhagen Infrastructure Partners . www.pensiondanmark.com . Pension Denmark . 2 August 2019.
- Web site: Vineyard Wind 1 . 2023-10-30 . Vineyard Wind . en-US.
