The UAE’s Altérra will invest in a fund managed by Denmark-headquartered Copenhagen Infrastructure Partner to support development of large-scale renewable projects globally.
The $30-billion Abu Dhabi-based climate-focused fund will back CIP’s growth markets fund II (GMF II), which invests in greenfield renewable projects across Asia, Latin America, Europe, the Middle East and Africa, Altérra said in a statement.
No investment amount was disclosed.
GMF II is set to be one of the “world’s largest greenfield-focused renewable energy funds” with its target markets expected to account for nearly 40 percent of global solar and wind capacity by 2050, the statement said.
GMF II is expected to cut an estimated 10 million tonnes of CO₂ annually and prioritise greenfield development in underserved regions.
Since its inception, CIP has made 60 investments with 20 gigawatts in operations or construction. The company manages 13 funds and has €35 billion ($41 billion) in assets under management from 200 of the top institutional investors, according to its website.
Altérra, headquartered in the Abu Dhabi Global Market free zone, was announced during the UN climate summit last year. The fund was launched in partnership with the US-based BlackRock and TPG, as well as Canada’s Brookfield.
In February 2024 Altérra’s chief executive Majid Al Suwaidi said the company aims to catalyse the investment of $250 billion of private capital by 2030.


