Alcazar Energy has reached a final closing of US$490 million, attracting capital from investors in North America, Europe, the Middle East and Asia, the company said on Tuesday.
“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,” Daniel Calderon, Co-Founder & Managing Partner said in the statement.
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), they have said.
“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,” the statement said.
The company has prviously 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.
