• Marks a key milestone in ALTÉRRA’s growing portfolio of strategic climate partnerships  
  • GMF II opens new renewable infrastructure pathways in growth markets with high emissions and fast-growing demand 

Abu Dhabi – ALTÉRRA announces a commitment from its Transformation Fund to Copenhagen Infrastructure Partners’ (‘CIP’) Growth Markets Fund II (‘GMF II’)1, a strategy investing in large-scale greenfield renewable energy projects across Asia, Latin America and EMEA. The announcement reflects ongoing progress in ALTERRA’s efforts to forge new strategic partnerships since its launch two years ago.  

GMF II is set to be one of the world’s largest greenfield-focused renewable energy funds, backing projects in markets where energy demand is rising rapidly and power systems remain emissions-intensive. Drawing on more than 13 years of CIP’s industrial expertise, the Fund aims to deliver strong risk-adjusted returns and high climate impact through investments in offshore and onshore wind, solar PV, battery storage and Power-to-X projects. Ancillary infrastructure under GMF II’s strategy further enables other renewable projects that might not otherwise be built, unlocking even greater grid capacity. 

GMF II’s target markets are expected to account for nearly 40% of global solar and wind capacity by 2050, driven by rapid demographic and economic growth. Electricity demand in these economies is rising up to six times faster than in advanced markets, creating strong investment opportunities as industrial activity expands and the need for affordable, reliable renewable energy increases. 

GMF II is expected to deliver significant impact, avoiding ~10 million tonnes of CO₂e annually2 and demonstrating strong additionality by prioritizing greenfield development in underserved regions. Since inception, CIP has taken ~60 investments with 20 GW in operations or construction.   

Karim Radwan, Partner and Head of Investments at ALTÉRRA, commented: “ALTÉRRA’s investment supports the transition to more resilient, low-carbon energy systems and with-it emissions reductions. It also reflects our commitment to backing partners with the scale and expertise to deliver meaningful climate impact and long-term value. GMF II is well positioned to accelerate access to clean, affordable energy in high-growth markets.” 

Senior Partner at CIP, Torsten Lodberg Smed, said of the partnership: “We are very proud of this commitment to our Growth Market Fund II, which marks the start of a partnership with ALTÉRRA, one of the world's leading climate investors. This partnership will enable CIP and ALTÉRRA to work towards a common goal of providing clean, affordable, and secure energy to rapidly growing economies across Asia, Latin America, and Africa where demand is accelerating." 

Since launch, ALTÉRRA’s managed funds have enabled a global clean-energy pipeline exceeding 95 GW across five continents. Its commitment to GMF II builds on this momentum, enabling transformative renewable assets in regions with rapidly growing demand and accelerating the global shift to affordable, secure and low-carbon power systems.