Alcazar Energy Partners – a Dubai-based, Luxembourg-domicile sustainable infrastructure fund – raised $490 million for its second renewable vitality fund.
The funding spherical attracted traders from North America, Europe, the Middle East and Asia, together with the European Bank for Reconstruction and Development, US International Development Finance Corp., Asian Infrastructure Investment Bank, and International Finance Corp.
The fund will intention to develop greater than 1.6 GW of fresh vitality initiatives in chosen rising markets. Once operational, the initiatives are anticipated to cut back greater than 3 million tons of greenhouse fuel emissions yearly.
Work has begun on the fund’s portfolio of belongings, which at present consists of two wind farms within the western Balkans.
“Such a fundraising effort, in one other difficult market scenario, is a superb endorsement of the power of our providing and a vote of confidence in our capacity to steer the event of initiatives in clear vitality in rising markets,” mentioned Alcazar Energy Partners Managing Partner Daniel Calderon. “With this funding, we’re nicely positioned to proceed investing in necessary renewable vitality initiatives that advance the vitality transition in areas traditionally underserved by the standard funding group.
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