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May 21st, 2024 | Dubai, United Arab Emirates

Alcazar Energy Partners reaches final close of US$490m for renewable energy fund

Dubai, United Arab Emirates, 21 May 2024: Alcazar Energy Partners II SLP (SCSp) (“AEP-II”), a Luxembourg domiciled sustainable infrastructure fund focused on utility-scale renewable energy projects in emerging markets, has reached a final closing of US$490 million, attracting capital from investors in North America, Europe, the Middle East and Asia.

Since first closing in November 2022, the fund has attracted eight additional top-tier investors such as the U.S. International Development Finance Corporation (DFC). These partners join a strong group of private and public investors, 80% of whom have AA or AAA ratings. Together they support AEP-II’s strategy to develop over 1.6GW of clean energy projects across select emerging markets that once operational will mitigate over 3 million tonnes of GHG emissions per year while generating long term employment opportunities in the countries in which they operate.

Having successfully acquired the project rights for its first two windfarms in the Western Balkans, totalling 456 MW, AEP-II has made significant progress in its aim of becoming a leading investor in the region’s renewable energy sector. Alcazar Energy’s projects will contribute significantly to an improved energy mix and the achievement of energy transition targets whilst generating local employment opportunities.

Alcazar Energy’s strong track record in investing in and developing renewable energy projects, its emerging markets expertise and commitment to ESG best practices have all contributed to a successful fundraising process for AEP-II. This follows the acquisition of AEP-I’s portfolios by China Three Gorges South Asia Investment Ltd, whose shareholders included the International Finance Corporation and the Silk Road Fund, during the second half of 2021.

Daniel Calderon, Co-Founder & Managing Partner, said: “We are excited to announce the final close of AEP-II, welcoming blue-chip public and private infrastructure investors. Such a fundraising effort, in otherwise challenging market conditions, is a huge endorsement of the strength of our offering and a vote of confidence in our ability to lead the development of clean energy projects in emerging markets. With this fund, we are well positioned to continue investing in essential renewable energy projects that advance the energy transition in places that are historically underserved by the traditional investment community.”

About Alcazar Energy

Alcazar Energy is a leading independent sustainable infrastructure fund domiciled in Luxembourg, with an advisory team based in Dubai focusing on utility scale renewable energy projects in emerging markets. Following the success of its first investment vehicle, Alcazar Energy Partners I (AEP-I), Alcazar Energy launched its second vehicle, Alcazar Energy Partners II SLP (SCSp) (AEP-II), bringing together blue-chip public and private investors from North America, Europe, the Middle East and Asia. AEP-II will develop over 1.6GW of clean energy and mobilise c.a. US$2bn of foreign direct investment, including project finance, in emerging markets.

More information at: https://alcazarenergy.com/

Media contact

H/Advisors Maitland – AlcazarEnergy@h-advisors.global
+44 (0) 207 379 5151 / +44 (0) 7341 788066

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