Alcazar Energy Partners II reaches US$336.6m First Close for Renewable Energy Projects
- Alcazar Energy Partners II SLP (SCSp) (“AEP-II”) brings together eight public and private institutional investors from North America, Europe, and Asia
- With a target of US$500m and a hard cap of US$650m, AEP II will mobilise US$2bn of foreign direct investment, creating over 15,000 construction jobs
- AEP-II’s projects will allocate US$35m to initiatives tailored to the needs of the communities
Alcazar Energy Partners II, a sustainable infrastructure fund focused on utility-scale renewable energy projects in emerging markets, has achieved a first close of US$336.6m.
This landmark transaction will enable the development of over 2GW of clean energy infrastructure across selected emerging markets, aiming to achieve total generation equivalent to powering over 1m households and saving c.a. 3.2m tonnes of Greenhouse Gas emissions.
AEP-II’s investors include the European Bank for Reconstruction and Development (EBRD); the European Investment Bank (EIB); EMCAF, a fund managed by AllianzGI and advised by EIB; the International Finance Corporation (IFC), a member of the World Bank Group; the Asian Infrastructure Investment Bank (AIIB); the German Development Institution (DEG), a member of KfW Group; the French Financial Development Institution (Proparco); and the Dutch Entrepreneurial Development Bank (FMO).
Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy, commented: “The successful first close of AEP-II is a tribute to the disciplined and responsible work of our Alcazar team. AEP-II is privileged to have the confidence of an outstanding group of public and private institutions to invest and develop in renewable energy projects, mobilising more than $2bn of foreign direct investment from OECD economies to build sustainable infrastructure where it is needed most.”
Nandita Parshad, EBRD Managing Director for Sustainable Infrastructure, said: “We are delighted to scale up renewables to accelerate the green energy transition across EBRD region by committing up to US$80 million in the new Alcazar Energy Partners II fund.”
EIB Vice-President Ambroise Fayolle commented: “This support will help crowd in further contributions from investors and ensure that the fund plays an important role in accelerating the green transition in its countries of operation.”
Tobias Pross, CEO of AllianzGI added: “Emerging markets are where the money for climate adaptation and mitigation is needed most. I am proud that our EMCAF investments are now gaining traction on the ground in emerging countries – not just helping to fight climate change, but to support healthy economic growth in this region.”
Khawaja Aftab Ahmed, IFC Regional Director for the Middle East, Pakistan, and Afghanistan, said: “We can’t tackle climate change without unleashing the power of the private sector. This flagship investment harnesses that power, supporting climate adaptation across countries in three continents. We are proud to join forces with our long-term partner Alcazar again.”
Simon Hailes, Alcazar Energy photo