Global Infrastructure Partners (GIP) is pleased to announce our partnership with CPP Investments | Investissements RPC to acquire ALLETE, a leading energy company and provider of safe, reliable, and competitively priced energy with a national footprint in the United States of America. We look forward to providing ALLETE with additional capital so they can continue to decarbonize their business to benefit the customers and communities they serve. Their demonstrated commitment to clean energy, coupled with GIP's role as one of the world’s premier investors in renewable power, furthers our commitment to serve growing market needs for affordable, carbon-free and more secure sources of energy.
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Foresight Group Holdings Ltd. has reached a first closing of its Foresight Energy Infrastructure Partners II SCSp (FEIP II) fund after securing €300 million of commitments. FEIP II brought in two new cornerstone investors to the strategy’s first close, including Border To Coast Pensions Partnership, a UK pension pool for Local Government Pension Schemes. Foresight Group noted that ‘momentum for future fund closes is strong’, supported by ‘multiple ongoing discussions with existing and new investors’. Foresight added that it was confident of reaching at least its target fundraise of €1.25 billion during 2025, marking a scaling up of nearly 50% on the prior vintage. “We are delighted to announce the first close of the second vintage of our flagship energy transition fund,” said Dan Wells, Partner Foresight Group, Fund Manager. “With the support of our investors, we are well positioned to continue our further fundraising momentum as we look to provide vital investment in the energy transition in Europe and beyond.” Richard Thompson, Partner Foresight Group, Fund Manager, added: “We look forward to building upon the success of Fund I, investing in key strategic energy assets that remove bottlenecks to the energy transition facilitating the deployment of more renewables and the achievement of net zero goals. “These critical infrastructure assets have long term value and in conjunction with FEIP’s unique approach to portfolio construction, are expected to deliver superior risk-adjusted returns for our investors.” FEIP II has a remit to invest in a diversified portfolio of energy infrastructure assets, such as renewable energy generation, energy storage and grid infrastructure. #cleanenergy
Foresight Energy Infrastructure Partners II fund hits €300 million first close
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UK pension manager Railpen and Scottish renewables company GreenPower Developments Ltd. have formed a new joint venture to co-develop the c.66 MW Barachander onshore wind project in North Argyll, Scotland. Railpen and GreenPower are already working together as co-owners of the 46MW operational Carraig Gheal Wind Farm, with the Barachander wind project being developed as a sister project. Barachander is currently at the pre-planning consultation stage and the two companies aim to submit a planning application later this year. “Our partnership with Railpen is a very positive one, and it is brilliant that our own independent Scottish company and the country’s railway workers can combine our resources in this way, to not just create new green energy, but to make a difference to people locally and nationally,” said Robert Forrest, GreenPower CEO. “The Barachander Wind Farm is proposed in a good location for a relatively modest number of turbines with good energy yield. We are also creating the Argyll Hydrogen Hub in the region, and Barachander can play a part in this powerhouse for clean renewable energy in the north of Argyll.” Tim Grimstone, Investment Manager at Railpen, added: “We are thrilled to expand our partnership with GreenPower. Barachander represents an attractive opportunity to participate in the development of a significant onshore wind project, adding to our existing portfolio of renewable energy assets in the UK. “Railpen aims to provide long term returns for our members whilst having a positive impact on the world in which they live. The Government’s recent push to accelerate onshore and offshore wind development aligns perfectly with our goals, including our pledge to achieve Net Zero across our investment portfolio by 2050. Partnering with the team at GreenPower helps us to achieve these goals, while the Barachander project itself will also provide substantial social and economic benefits.” The Barachander development will be located within an upland area next to an existing hydroelectric scheme. The area already hosts a major commercial forestry plantation and the wind farm will key hole into it. Between nine and 11 wind turbines at up to 180 metres tall from ground level to the top of the blade tip are planned. The Barachander project will meet current Scottish Government guidance to provide the equivalent of £5,000 per MW of installed generating capacity annually into a community benefit fund, potentially amounting to over £300,000 per year to be invested into community priorities and projects. #cleanenergy
Railpen, GreenPower form latest Scottish wind project partnership
https://cleanenergypipeline.com
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Happy New Year! Hopefully everyone had a great break and a wonderful festive season! After a difficult 2023 we hope that 2024 will bring much activity and investment. It has started positively with December bringing quite a bit of activity. Please see below for a overview of the market over the prior month: Ardian closed a transaction with SOLARPACK, to optimize Ardian’s portfolio of solar plants in Chile and Peru. They now own 100% of three solar PV plants in Chile, totalling 26.5 MW, as well as one solar PV plant in southern Peru, with 22.2 MW. Brookfield Asset Management has raised $30bn (€28bn) for its global infrastructure equity fund. Brookfield Infrastructure Fund V (BIF V) received $28bn and around $2bn in related co-investment vehicles, making it the world’s largest closed-ended private infrastructure fund. Copenhagen Infrastructure Partners (CIP), has launched Growth Markets Fund II. The fund has a target size of $3 billion and will focus on delivering renewable energy infrastructure projects reflecting over $10 billion of capital investment. EDP Renewables (EDPR) have commenced operations of its first solar plant in the Netherlands, a 12 MWp solar project located in Berkelland, Gelderland. The European Investment Bank (EIB) has committed €400m to support Mytilineos’ buildout of solar and storage capacity in Greece and other countries in the EU. They will deploy a new portfolio of solar and battery energy storage system projects totalling 2.6GW of capacity. Nexif Energy, have acquired the 30 MW Minh Luong run-of-river hydro power plant in Vietnam’s Lao Cai province. OX2 has handed over the Grajewo wind farm in Poland to DIF Capital Partners. The wind farm comprises of 12 turbines with a total installed capacity of 41 MW. Statkraft have outlined plans to invest up to €6 billion in upgrades to its Norwegian hydro and wind power facilities, as well as in the construction of new onshore wind farms. Swiss Life Asset Managers have announced the first close of its infrastructure fund, Swiss Life Funds (LUX) ESG Global Infrastructure Opportunities Growth II, with over €560 million in capital. The fund aims to reach a target size of €1 billion and is focused on investments in small to mid-market infrastructure assets, such as decarbonisation and digitalisation. #infrastructure #investment #renewables
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CPP Investments | Investissements RPC acquires stake in Tallgrass Energy - Canada Pension Plan Investment Board has signed and closed an agreement to invest approximately $843 million in Tallgrass Energy. - Tallgrass Energy is a leading energy infrastructure company based in Denver, Colorado, operating over 10,000 miles of pipeline assets across 14 states in the U.S. - The company is focused on initiatives related to the global transition to a lower-carbon future, including CO2, hydrogen, renewable fuels, and decarbonized power. - CPP Investments views Tallgrass as an attractive investment opportunity due to its combination of traditional energy and decarbonization solutions. - Bill Rogers from CPP Investments expressed excitement about supporting Tallgrass's growth in energy needs and decarbonization opportunities. - Blackstone's Matthew Runkle noted a strong partnership and collaboration with Tallgrass management to develop large-scale energy infrastructure. - CPP Investments’ Sustainable Energies group manages net assets totaling approximately C$34.2 billion and invests in diverse areas of the global energy system. - CPP Investments is an independent investment management organization that manages the Canada Pension Plan's Fund for over 22 million contributors and beneficiaries. - As of March 31, 2024, CPP Investments' total assets amounted to C$632.3 billion. https://lnkd.in/g5W2dexc
CPP Investments acquires stake in Tallgrass Energy
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Southerly Ten is powered by Copenhagen Infrastructure Partners (CIP) - the world’s largest fund manager dedicated to greenfield renewable energy investments and a global leader in offshore wind. CIP invests for impact, with a goal to deploy more than $150 billion of equity to reduce global carbon emissions by 1% by 2030. CIP's investors include more than 170 prominent institutional investors and by partnering with superannuation funds worldwide, CIP is also building worker’s retirement nest eggs with investments that support the global energy transition. Southerly Ten is leading the development of offshore wind projects across Australia on behalf of CIP's flagship funds – including Australia’s most advanced offshore wind farm, Star of the South. Through CIP's global network, our team has access to over 1,850 energy specialists worldwide. We have the best minds on the job. #OffshoreWind #Australia #investors #SoutherlyTen #global #RenewableEnergy
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EnCap Investments Raises $1.5bn for Second US Energy Transition Fund 🌿 EnCap Investments L.L.C Investments has successfully closed its second US energy transition fund, raising an impressive $1.5bn (€1.4bn). This exceeds the $1.2bn raised for its first fund in May 2021. Significant commitments include $50m from Arkansas Teacher Retirement System, $80m from Ohio Police & Fire Pension Fund, and $75m from Orange County Employees Retirement System. EETF II is focused on decarbonizing the power industry and investing in low carbon fuels and carbon management. It has already committed to five portfolio companies: Linea Energy, Parliament Solar, PowerTransitions, Arbor Renewable Gas, and Bildmore Renewables. Jim Hughes, managing partner, highlighted their robust investor support and ongoing investment opportunities in renewables, energy storage, clean fuels, and carbon solutions. Jason DeLorenzo, managing partner, expressed pride in the fund’s success and their mission to meet global energy needs. EnCap now manages approximately $2.7bn dedicated to decarbonization since its inception in 2019. This fund exemplifies the increasing commitment from both public and private sectors to address climate change and support a sustainable future. Investments like these are essential for accelerating the transition to a low-carbon economy. They provide the necessary capital to scale up renewable energy projects, develop new technologies, and create jobs, thereby ensuring a more sustainable and secure energy future. As EnCap continues to lead with strategic investments, it sets a powerful precedent for others in the industry to follow, highlighting the crucial role of financial markets in driving the energy transition. 📈 #EnergyTransition #RenewableEnergy #SustainableInvesting
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Schroders Greencoat LLP, Schroders Capital's specialist renewables and energy transition infrastructure manager, today announces the launch of the UK’s first LTAF exclusively dedicated to renewable energy and energy transition infrastructure, Schroders Greencoat Global Renewables+ LTAF. The new fund will target infrastructure supporting the energy transition across the UK, US, and Europe, deploying capital across wind and solar assets, as well as a range of energy transition assets including hydrogen, heating and storage. The Schroders Greencoat Global Renewables+ LTAF builds on the launch of the UK’s first LTAF, the Schroders Capital Climate+ LTAF, last year, adding to the suite of private market solutions offered to DC schemes and other clients. Find out more here: https://lnkd.in/exwxC2C2 Duncan Hale Tatiana Zervos Karin Kaiser Tim Horne, CFA Jack Wasserman, CFA #LTAF #energytransition #renewableenergy #privatemarkets #SchrodersGreencoat #SchrodersCapital #DCpension
Schroders Capital launches UK’s first renewables and energy transition infrastructure dedicated Long-Term Asset Fund
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Schroders Greencoat LLP is set to majority acquire Toucan Energy’s portfolio of 53 operational solar farms in the UK. The portfolio has a combined capacity of 513.5 MWp and is located across England, Wales, and Northern Ireland. “We are thrilled to have agreed to acquire the largest operational solar portfolio put to market in the UK,” said Lee Moscovitch, Partner at Schroders Greencoat. “This is a major achievement for Schroders Greencoat, particularly given the size, complexity and number of stakeholders involved in the transaction." Schroders Greencoat’s new solar portfolio has the capability to power an approximately 184,000 homes per annum, and is valued at approximately £700 million. The majority of the portfolio will be acquired by Schroders Greencoat managed funds, such as Greencoat Solar II LP and Greencoat Renewable Income LP, along with recently launched mandates. Notably, a substantial part of the acquisition involves six Local Government Pension Schemes – Avon, Cornwall, Devon, Gloucestershire, Oxfordshire, and Wiltshire Funds – through Schroders Greencoat Wessex Gardens LP. Tokyo Century Corporation / 東京センチュリー will also participate as a co-investor in this acquisition. This acquisition follows a competitive bidding process overseen by the joint administrators of Toucan Energy Holdings 1 Limited at Interpath Advisory. “We are delighted to have reached this landmark agreement with Schroders Greencoat which will see this excellent solar portfolio move into new ownership, delivering optimum value and generating a significant return for the portfolio’s creditors,” added Jim Tucker, Managing Director at Interpath Advisory and joint administrator of Toucan Energy Holdings 1 Limited. “This was a highly competitive sales process, requiring substantial preparation, due in no small part to the fact that assets of this scale and quality rarely come to market. We look forward to the transaction completing in the coming weeks.” RBC Capital Markets served as the exclusive financial adviser to Schroders Greencoat on the transaction, with additional advisory support from Eversheds Sutherland, Evergy, and PwC. The joint administrators at Interpath Advisory were assisted by KPMG LLP (M&A), Herbert Smith Freehills LLP (Legal), Interpath Advisory (Financial & Tax), Cornwall Insight Ltd (Commercial), THE NATURAL POWER CONSULTANTS LIMITED (Technical), and the management team of Toucan. #cleanenergy
Schroders Greencoat to buy massive operational solar portfolio in the UK
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💼$6bn M&A Marathon! PE firms' and Pensions Funds' Dominance in UK's Onshore Renewables Landscape Emphasized by Railpen's Latest Acquisition 🔍 M&A Activity: PE firms have been leading the UK's onshore renewable energy M&A since early 2023, accounting for over 40% of the acquisition activity for solar, wind, and storage assets. These transactions represent a cumulative deal value of ~$6bn. 🌱 Deal Targets: The majority of the purchases focused on either operational assets with a stable route to market or corporate investments in platforms with extensive early-stage pipelines. 🏷️ Railpen Investments: Recently, pension fund Railpen Investments acquired a 50% stake in AGR Power, a developer of solar, onshore wind, and BESS projects. This marks Railpen's sixth deal in the UK, providing access to over 2.5 GW of early-stage development pipeline. #RenewableEnergy #MergersAndAcquisitions #GreenInvestment #SustainableDevelopment #EnergySector #InvestmentTrends #PrivateEquity #EconomicGrowth #UKRenewables #Railpen
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We're thrilled to announce the $153 million close of our second investment vehicle, Segue Renewables II. Building off the relationship established in our predecessor pool, NGP is the primary investor. Working with them has been a genuine delight. We feel very fortunate to be partnered with a group that senses opportunity where others can only see risk. They're a great group of folks who are humble enough to give us space to do what we do, while injecting perspective and relationship capital at the right moments. We deeply appreciate the confidence and support shown by Sam Stoutner, James Wallis, Audrey Constant, and the rest of the fantastic team at NGP. Our strategy for "SR2" will be the same. When it ain't broke, don't fix it. Segue primarily invests in portfolios of #solar, #energystorage, and other #energytransition real assets, usually at the earlier stages of development. Then we work with our frontline #development partners to build value and mitigate risk. Finally, we sell the projects/portfolios at a later stage, usually when development is complete. Thanks to our development partners, SR1 is humming along wonderfully. We look forward to increasing dialogue with the project buyer community as the SR1 monetization phase ramps. We sold 9 projects this year and expect considerably more sale activity next year. The press release below contains further details on SR2 and other Segue updates. https://lnkd.in/gnT-duQH
Segue Sustainable Infrastructure Closes Second Capital Pool
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