secures a milestone financing of 500 million euros to accelerate renewable energy production
Summary
This debt package strengthens our position as an independent power producer as it enables us to accelerate building renewable energy production in Finland and Sweden in accordance with our strategy. KLP is excited to be a part of the lending consortium that enables further growth of Ilmatar and its portfolio of high-quality renewable energy projects in the Nordic market. The funds managed by CIP focuses on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.CIP manages eleven funds and has to date raised approximately EUR 26bn for investments in energy and associated infrastructure from more than 150 international institutional investors. For more information, visit www.cip.comAbout P Capital PartnersPCP is a multi-strategy private credit investor committed to unlocking the full potential of companies in Northern Europe through enduring partnerships. With commitments of approximately EUR 700m, the fund thematically invests in support of the following goals: (i) accelerating the development of a carbon neutral society; (ii) supporting the development of the circular economy and; (iii) improving the sustainability characteristics of harder to abate sectors.About KLPKommunal Landspensjonskasse gjensidig forsikringsselskap (KLP) is Norways largest occupational pension fund with over 1000 employees and group assets under management of approximately 1000 billion Norwegian kroner.