Capital Dynamics Clean Energy and Infrastructure Fund raises $1.4bn
European asset management company Capital Dynamics has closed its most recent clean energy funding round at a total of $1.39bn (€1.2bn).
The Clean Energy Infrastructure (CEI) Fund (of which version VII closed this week) focuses on ‘proven’ clean energy technologies including solar, wind, biomass/landfill gas, geothermal, gas-fired and hydro.
Investors in the fund had also invested in Capital Dynamics’ previous rounds, and key organisations included APG Asset Management, the California State Teachers’ Retirement System and a subsidiary of the Abu Dhabi Investment Authority.
Capital Dynamics says it wants funds to focus on clean energy for a number of reasons: rising electricity prices; increased cost competitiveness of proven technologies; increasing economic, political and social demand; increased retirement of ageing power infrastructure in developed markets; and a range of legally binding regulatory and market-based investment incentives.
The CEI fund program, according to the company, “invests directly in commercial and utility-scale, clean and low-carbon power generation assets or related infrastructure employing proven technologies, primarily in North America and Europe”.
John Breckenridge, Managing Director and Head of Clean Energy Infrastructure at Capital Dynamics, said: “With the close of CEI VII, we will continue to execute our proven investment strategy of investing in high-quality renewable energy generation projects.
“We greatly appreciate the continued confidence of our major investors and are committed to helping them achieve both their investment and ESG goals.”