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CIP raises €375m for bioenergy fund

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Danish fund manager Copenhagen Infrastructure Partners (CIP) reached a €375 million first close for its new CI Advanced Bioenergy Fund (CI ABF).

The fund, which has a target size of €1 billion, will focus on equity investments in advanced bioenergy infrastructure in Europe and North America. It enables institutional investors to contribute to the energy transition and participate in the decarbonisation of hard to abate sectors through the production of advanced biofuels and biogas while delivering solutions for environmental and organic waste challenges.

Investments will be ‘dark green’, based on sustainable feedstock such as waste wood, agricultural biowaste, and household and industrial biowaste. The offtake products will include green gas and green fuels, such as RNG, bio-LNG, and second-generation bioethanol.

“We are very excited about the establishment of our new advanced bioenergy strategy which taps into an attractive market opportunity underpinned by major themes such as the climate agenda, circular economy, and energy independence,” said Jakob Baruël Poulsen, managing director at CIP.

“Obtaining first close commitments of €375 million from some of our largest existing investors is an important proof of investor confidence and a testament to our track record.”

Before first close of the CI ABF I, CIP secured the funding of an ‘attractive portfolio’ of development stage advanced bioenergy projects in Europe with diverse exposure to feedstock, production technologies, and offtake markets.