Copenhagen Infrastructure Partners (CIP) plans to invest over DKK 25 billion in new green energy projects by 2028, focusing on emerging markets such as India and South Africa. The investments are being made through the Growth Markets Fund II, which was launched in 2023 with a goal of raising more than DKK 19 billion. The fund has already invested in new projects in, among others, India, Romania and Chile and is expected to become the world's largest fund for investments in renewable energy in emerging markets with an expected capacity of 8-10 gigawatts. This is reported by Børsen.
According to CIP, the new investments are due to a combination of economic growth, relocation of production and a growing need for cheap electricity. India and South Africa in particular are experiencing strong pressure on energy supply, which creates favorable conditions for new renewable energy plants. The fund targets countries with strong solar and wind resources and the ability to connect battery solutions to production. The investments are typically made in collaboration with local players. CIP emphasizes that it is not climate ideology, but the price of electricity that is driving the transition in the new markets. At the same time, emphasis is placed on energy independence from imported coal and gas.
- When we look 25 years into the future, there is much evidence that these high-growth countries will constitute a larger market for renewable energy than North America and Europe combined. That is why we see enormous potential in these markets, says Ole Kjems Sørensen, managing partner at CIP.
The fund's new projects come on top of previous investments from CIP's Growth Markets Fund I, which has invested close to DKK 6 billion in countries such as India and South Africa since 2019. CIP expects that the total investments in the two funds, Growth Markets Fund I and II, will exceed DKK 25 billion by 2028.
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