The Ireland Strategic Investment Fund (ISIF) - part of the National Treasury Management Agency (NTMA) - is to commit €125m to a new fund - Foresight Energy Infrastructure Partners II (FEIP II) - to invest in renewable energy generation, energy storage solutions and grid infrastructure.The investment is part of ISIF’s ambition to seek to invest €1bn in climate-related investments over a five-year period.
The Ireland Strategic Investment Fund (ISIF) - part of the National Treasury Management Agency (NTMA) - is to commit €125m to a new fund - Foresight Energy Infrastructure Partners II (FEIP II) - to invest in renewable energy generation, energy storage solutions and grid infrastructure.
The investment is part of ISIF’s ambition to seek to invest €1bn in climate-related investments over a five-year period.
This new investment brings total ISIF commitments to climate investments to €776m since 2021, representing over 75% of the overall target.
FEIP II will focus on three sub-sectors of energy infrastructure, renewable energy generation, energy storage solutions and grid infrastructure.
More than 70% of the fund will target greenfield projects, which it will aim to build and bring into commercial operation.
Foresight
Foresight is an investment manager in assets and capital for growth, with around €14bn in assets under management across renewable energy infrastructure and SME private equity.
The ISIF has previously announced a commitment of €25m to another Foresight fund - the AIB Foresight SME Impact Fund, an impact-focused private equity fund managed by Foresight Group which seeks to grow businesses and implement sustainable best practices.
Previous commitments
Earlier this year, the ISIF announced commitments to three separate climate funds - a €200m investment in Copenhagen Infrastructure V, the latest Flagship fund of Copenhagen Infrastructure Partners; a €50m investment in Impax New Energy Investors IV Fund; and a $30m investment in ArcTern Ventures Fund III.
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