climate solutions

In brief: ISIF deploys €280m for climate

Ireland 'needs more generating capacity to accelerate the economy’s transition to net zero', ISIF director Nick Ashmore said.

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The Ireland Strategic Investment Fund has made fund commitments totalling €280 million in pursuit of the energy transition. The state-backed investor this week announced commitments of €200 million investment to Copenhagen Infrastructure Fund V, €50 million investment to Impax New Energy Investors Fund IV and $30 million investment to ArcTern Ventures Fund III.

These are part of the ISIF’s pledge to deploy €1 billion for climate themes in the five years between 2021 to 2026. It has so far invested €636 million of this target, according to ISIF’s statement.

“The commitments we’re announcing today show ISIF’s appetite to invest across the spectrum of available climate investments,” said ISIF director Nick Ashmore in the announcement. “We’re heavy backers of wind and solar energy because Ireland needs more of this generating capacity to accelerate the economy’s transition to net zero.”