PensionDanmark sets the investors on the agenda at Nordic Clean Energy Week
The G20+ countries are attending an energy summit in København and Malmö – the Nordic Clean Energy Week – held from May the 21st to the 25th. The participating countries at the summit are responsible for 75 pct. of the CO2 greenhouse gas emission at the earth, but at the same time responsible for 90 pct. of the investments in clean energy.
As a part of the official program for Clean Energy Ministerial and Mission Innovation PensionDanmarks CEO, Torben Möger Pedersen, has been invited to speak at the seminar Clean Energy Investment Forum May the 22nd about the experiences from investing in renewable energy.
”PensionDanmark is investing in renewable energy infrastructure such as wind mill farms, biomass power plants, photovoltaic solar cells and transmission grids. The energy infrastructure contributes with a good and stable investment return and contributes at the same to the transmission to a low carbon society. PensionDanmark was among the first to invest in renewable energy and these investments today totals more than 20bn DKK. We are pleased to share our experiences regarding the investors’ role in developing renewable energy,” says Torben Möger Pedersen.
Most of PensionDanmark energy investments in Europe and North America are made
through funds managed by Copenhagen Infrastructure Partners (CIP). PensionDanmark co-established CIP in 2012 and was initially the only investor in CIP’s funds. Subsequently, other investors have been invited to join, and the alliance for direct investment in renewable energy infrastructure currently has more than 40 investors. Since its establishment, the partnership has raised some 50bn DKK for its funds. This makes CIP a European leader within its field. PensionDanmark is the largest anchor investor in the fund with a total investment commitment of 18bn DKK.
PensionDanmark is also investing in renewable energy in developing countries. It is a challenge, as the investment climate isn’t as mature as in developed countries. As a consequence, investments as e.g. the wind mill farm Lake Turkana in Kenya is carried out by the Danish Climate Investment Fund managed by the Investment Fund for Developing Countries.
“In this way, PensionDanmark has helped raise private capital for direct investments in developing countries. Both funds are examples of “blended finance”, meaning that public and private capital are combined. This reduces the risk exposure of private investors and thus enables them to participate in attractive investments in developing countries. At the same time, the private capital provided by, among others, PensionDanmark adds to the funds’ investment capacity and professionalism,” says Torben Möger Pedersen.
Speakers at Clean Energy Investment Forum
Lars Chr. Lilleholt, Danish Minister of Energy, Utilities and Climate
Riccardo Puliti, Senior Director, Energy & Extractives, World Bank
Andrew McDowell, Vice President, European Investment Bank
Peter Damgaard Jensen, CEO, PKA, Chair, IIGCC
Tine Roed, Deputy Director General, Confederation of Danish Industry
Torben Huss, Executive Vice President, Investment Fund for Developing Countries
Sian Ferguson, Trust Executive, The Sainsbury Family Charitable Trusts
Dan Brouillette, Deputy Secretary, U.S. Department of Energy
Connie Hedegaard, Formerly European Commissioner for Climate Action; Danish Minister for Environment and Minister for Climate and Energy 2004-2009
Torben Möger Pedersen, CEO, PensionDenmark
Jakob Baruël Poulsen, Managing Partner, Copenhagen Infrastructure Partners
Adnan Z. Amin, Director General, IRENA
Stephanie Maier, Director, Responsible Investment, HSBC Global Asset Management
Jens Ulltveit-Moe, Founder and CEO, Umoe
Thorsten Herdan, Director-General, Energy Policy, Heating and Efficiency, German Federal Ministry
Dominique Ristori, Director-General, DG Energy, European Commission
Susan Nickey, Managing Director, Hannon Armstrong
Morten Dyrholm, Group Senior Vice President, Vestas
Anthony Cox, Deputy Director, Environment Directorate, OECD
Maximilian Fleischer, Chief Expert, Energy Technologies, Siemens Corporate Technology
Per Wimmer, President and CEO, Wimmer Financial