Copenhagen Infrastructure Partners has closed its Growth Markets Fund II at $3 billion, on the heels of starting up its latest BESS facility in the UK.

CIP announced the closing of GMF II on August 14. The fund targets large-scale energy infrastructure projects in 15 markets across Eastern Europe, Asia and Latin America.

GMF II is nearly triple the size of the first vintage and has already committed around $1.6 billion across nine investments including commissioning of a standalone battery project in Chile and starting construction on Mexico’s first large-scale solar and BESS projects.

Niels Holst, partner and co-head of growth markets funds at CIP, said the company had been successful in attracting a diverse group including sovereign wealth funds and pension funds.

Meanwhile, on August 12, CIP announced the start of commercial operations of Coalburn 1 in Scotland — a 500MW, two-hour duration BESS, which the company said is currently the largest operational battery in Europe.

CIP said the lithium ion BESS will play an important role in strengthening the flexibility and resilience of the UK power system and supporting the continued integration of renewable energy generation.

Coalburn 1 is part of CIP’s expanding portfolio of UK energy infrastructure investments. It is one of three transmission-connected BESS assets developed by CIP in Scotland. Together, Coalburn 1, Coalburn 2 and Devilla will provide 1.5GW of power capacity and 3GWh of energy storage.