GLOBAL GATEWAY-COPENHAGEN GROWTH MARKETS FUND II

Promoteur – Intermédiaire Financier

COPENHAGEN INFRASTRUCTURE PARTNERS P/S

Lieu

• Régional - Asie
• Régional - Afrique
• Régional - Amérique latine

Description

The project consists of an infrastructure fund targeting equity investments in greenfield renewable energy assets predominantly in high growth middle income markets and in selected EU Member States. By supporting major renewable energy projects, in particular onshore and offshore wind construction projects with European participation, the investment is well aligned with the objectives of the Global Gateway Initiative.

Additionality and Impact

EIB's investment supports an experienced fund manager's strategy to build a portfolio of utility scale renewable energy assets in underserved markets (in Asia, Latin America and EMEA) that have significant requirement for new energy generation capacity. It also supports a fund manager with high standards of environmental, social and governance ("ESG") best practices. The operation will support two areas of focus of the European Commission's Global Gateway strategy and assistance programme (Environment and Climate Change and Energy).

 

The operation addresses the market hesitance in mobilizing the required capital for the development of greenfield infrastructure assets in the Fund's target regions; and the gap between supply and demand that are closely linked to lack of capacity and availability of funding for such assets.

 

Moreover, the operation supports projects with significant positive environmental externalities, including avoided carbon emissions and air pollution.

 

EIB's recommendations have contributed to the Fund's investment strategy and approach to procurement. An EIB investment will be an essential component for the Fund to achieve (i) the targeted first close, and (ii) a solid basis to invest responsibly in a high quality portfolio.

 

The Promoter has demonstrated willingness to introduce structural changes to be in compliance with EIB Group policies and best market practice.

Objectifs

The operation will support large scale renewable energy and other energy related technology investments in high growth middle income markets contributing to the achievement of renewable energy and decarbonisation targets in European Union and globally. By supporting major renewable energy construction projects, in particular onshore and offshore wind projects with European participation, the investment is well aligned with the objectives of the Global Gateway Initiative.

Secteur(s)

• Énergie - Production et distribution d'électricité, de gaz, de vapeur et d'air conditionné

Montant BEI envisagé (montant approximatif)

USD 100 million (EUR 93 million)

Coût total (montant approximatif)

USD 3000 million (EUR 2793 million)

Aspects environnementaux

This operation aims at generating environmental benefits by supporting construction projects that help mitigate climate change. The project is in line with the Bank's priority lending objectives for renewable energy and supports Climate Action and Environmental Sustainability objectives (100%).

Passation des marchés

The EIB will require the Promoter to ensure that implementation of the construction projects will be done in accordance with the EIB's Guide to Procurement.

Statut

Signé - 21/06/2024