Copenhagen Infrastructure Partners (CIP) has announced that it has achieved the final close for CI Energy Transition Fund I (CI ETF I). The fund was oversubscribed and closed at the hard cap of EUR3 billion (US$2.99 billion).

The Fund intends to invest in next-generation renewable energy infrastructure including industrial-scale Power-to-X (PtX) projects. It will primarily focus on greenfield projects in the OECD and aims to contribute to the decarbonization of industries such as agriculture, aviation, shipping, chemical manufacturing, and steel production through the use of green fuels and feedstock and CO2-free fertilizers.

CI ETF I’s current portfolio once operational is estimated to reduce more than 7.5 million tonnes of CO2 annually (or the equivalent of removing approximately 1.6 million cars from the roads permanently) and deliver more than 4 million tonnes of green fuels each year.