Copenhagen Infrastructure Partners (CIP) has achieved the first close on its fifth flagship fund, Copenhagen Infrastructure V (CI V), with commitments worth €5.6bn. The fund is expected to reach its target size of €12bn, which would make it the biggest greenfield renewable energy fund globally. The first close saw participation from investors in various regions, and more investors are expected to join. CI V will invest in greenfield projects such as offshore wind, energy storage, onshore wind, and solar in low-risk OECD countries. The fund aims to add 20 GW of new clean energy capacity to the grid, which is enough to power more than 10 million households and avoid 15 million metric tons of CO2 emissions annually.