The European Investment Fund (EIF) has committed €200 million to Copenhagen Infrastructure Partners' (CIP) Advanced Bioenergy Fund II (ABF II), marking the official launch of the fund with the EIF as cornerstone investor.
ABF II targets a total size of €1.5 billion and will invest primarily in the development, construction and operation of new industrial-scale biogas plants using anaerobic digestion technology. Projects will convert feedstock including manure and other agricultural waste into biomethane for use in sectors such as industry and maritime transport. The fund focuses on greenfield projects in Denmark, Ireland, Spain, Belgium and Finland.
The EIF investment is backed by the European Union's InvestEU and REPowerEU initiatives. CIP is one of the world's largest fund managers dedicated to clean energy infrastructure, having raised more than €37 billion across projects in more than 30 countries.
Merete Clausen, deputy chief executive of the EIF, said the investment reflected Europe's growing focus on renewable gases and would help increase domestic renewable energy production and strengthen energy security.
Thomas Dalsgaard, partner at CIP and head of its advanced bioenergy team, said there was "strong market demand for the production of domestic biomethane across Europe" and that CIP was well positioned to deliver through its existing portfolio of greenfield projects.
ABF II follows the first Advanced Bioenergy Fund, with CIP saying the launch of the second fund reflected growing institutional investor support for advanced bioenergy as a component of Europe's energy transition.
EIF commits €200m to Copenhagen Infrastructure Partners for European biomethane fund
