EIP Raises EUR 1 Billion For Energy Transition Projects In Rich World

• The financiers will currently purchase two key portfolios EIP has lately finished.
• EIP wishes to raise EUR 4 billion by the final close that has actually been planned for completion of 2024.

Energy Infrastructure Partners (EIP) has actually revealed that it has actually raised EUR1 billion for the initial close of its international energy transition infrastructure fund. Most of the investment commitments come from the Swiss pension funds. Credit Suisse Investment Foundation contributed EUR 700 countless the overall commitments. The funds are most likely to be invested in projects in Western Europe just.

EIP dives in the construction and also development of energy transition assets in Switzerland and also Europe and also various other established economies of the world.

EIP keeps that its method for investment revolves around the production of assets necessary for carbon-free energy, energy transport via power grids and also transmission networks, energy storage through grid-scale batteries and also pumped storage space that offers versatility to the grid system.

The financiers will certainly currently buy two key portfolios EIP has just recently completed. EIP has a 30 percent stake for EUR 532 million in the French renewables platform of Boralex Inc that has more than 1 GW of set up generation capacity. It likewise has a 25 percent risk together with Crédit Agricole Assurances in Repsol Renovables that preserves 1.6 GW of set up capacity worldwide.

EIP anticipates affordable development in the operating asset base of both investments. The capacity of Boralex Inc is expected to increase by 3 times and Repsol's by 10 times by the end of this decade.

According to reports, EIP has actually inked a deal to take around 20 percent risk in Fluxys that runs vital energy transmission infrastructure globally. EIP is intending a 2nd near take RE investments past Switzerland. The organisation wishes to raise EUR 4 billion by the final close that has actually been planned for the end of 2024.

"The strong need from our historical Swiss client base-- especially amidst numerous choppy quarters in public markets as well as central banks' motion away from a low-rate environment-- is a strong vote of self-confidence in EIP and energy infrastructure," said Beat Goetz, EIP's head of worldwide client remedies. "Considering the unique qualities of system-critical energy infrastructure, this space is seen increasingly more as its own asset class," he included.