AkademikerPension, Gentofte, Denmark, committed 500 million Danish kroner ($73 million) to French renewable energy fund Capenergie 5 managed by Omnes Capital, according to a news release on its website.
The $20 billion pension fund will invest 60% of the commitment in the fund. The remaining 40% will be allocated to co-investments in companies, for example, that work in wind and solar energy.
The Omnes fund invests in green-transition projects within onshore wind turbines and solar parks in Europe, focusing on smaller developer teams to build renewable energy platforms with a pipeline in various stages together with them.
"With this investment, we are getting involved in the part of the process of the sustainable transition on which there is usually not so much focus but which is so enormously important if we are to achieve the goals of the Paris Agreement," said Anders Schelde, investment director, in the news release. "Namely, the more initial phase of the large climate-friendly projects, where we see huge potential over the next several years."