Copenhagen Infrastructure Partners (CIP) announced the launch of its Growth Markets Fund II (GMF II). GMF II is a successor fund to Growth Markets Fund I launched in 2019.
With a focus on developing and building offshore and onshore wind, solar PV, energy storage and Power-to-X projects in selected high growth middle-income markets across Asia, Latin America and EMEA, the fund has a target size of USD 3 billion and is expected to deliver renewable energy infrastructure projects reflecting over USD 10 billion of capital investment. This will enable more than 10 GW of new renewable energy capacity. GMF II will focus on investments in large-scale and complex greenfield renewable energy infrastructure projects in high-growth middle-income markets with strong fundamentals for renewable development and significant impact potential. The fund is targeting 15 selected high-growth middle-income markets across Asia, Latin America and EMEA, such as India, Vietnam, Philippines, Mexico, and South Africa. The fund has ownership to a diversified portfolio of attractive development stage projects across offshore wind, onshore wind, solar PV, battery storage and Power-to-X representing more than USD 5 billion in potential commitments.
