At first close, Alcazar’s second fund hits 67% of final goal

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Alcazar Energy held the first close for its second renewable energy fund infrastructure last week, winning enough commitments to reach 67% of the capital needed to meet the fund’s final close goal. Alcazar Energy Partners II (or AEP II) now has $336.6 million in hand, raised primarily from several development finance institutions including Asian Infrastructure Investment Bank, DEG, European Bank for Reconstruction & Development, the European Investment Bank, FMO, the International Finance Corporation, and Proparco.

AEP II’s primary strategy is to back solar photovoltaic and onshore wind projects in the MENA Region as well as in Eastern Europe and Central Asia. The fund’s investment team will build a portfolio of assets across all stages of development, from pre-permitting early-stage deals to more advanced, post-permit stage deals, to investments in project construction and operation opportunities. Once completed, the assets within its portfolio are expected to have a generating capacity of 2GW, powering more than 1 million households and saving 3.2 million tonnes of greenhouse gas emissions.

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