L&G and NTR raise approximately $385 million at the first close of Clean Power Transition IV
The renewable infrastructure fund adds battery storage and electrification assets, with three acquisitions already completed in Finland, Sweden and Ireland.
At a glance
The strategy keeps renewable generation at its core and adds battery storage plus infrastructure that supports electrifying transport, heating and industry.
Clean Power Transition IV has already made three acquisitions across Finland, Sweden and Ireland.
L&G and NTR have secured approximately $385 million in commitments at the first close of Clean Power Transition IV, according to ESG News, which reported the figure on Oct. 16.
The strategy keeps renewable generation at its core and adds battery storage plus infrastructure that supports electrifying transport, heating and industry.
Four institutional investors from the predecessor fund returned as cornerstone backers. The predecessor strategy, run jointly by the two firms, closed in March 2025 after raising more than $747 million for European clean power infrastructure.
Three acquisitions already in the portfolio
Clean Power Transition IV has already made three acquisitions across Finland, Sweden and Ireland.
In Finland, Kandalos is a ready-to-build 125 MW battery project near Tornio with 250 MWh of storage capacity; construction is scheduled for 2026 and operations for 2027. In Sweden, Vindr AB is a development platform holding more than 1 GW of clean power projects across three electricity price regions and multiple development stages. In Ireland, Swordlestown in County Kildare combines 138 MWp of solar generation with a 200 MW battery storage system and 400 MWh of storage capacity.
ESG Capital Daily reported a €330 million first close for the same fund on Oct. 15. The two reported figures use different currencies.
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